Small Businesses Add 51K Jobs In January
Feb. 9, 2021—Small Businesses in the U.S. added 51,000 jobs in January, Small Business Trends reported.
It’s an encouraging rebound after 13,000 jobs were lost in December. The growth is split almost evenly between very small (1-19 employees) and other small (20-49 employees) businesses at 26,000 and 25,000 respectively. Many of the new jobs came from the service-providing sector, which is slowly recovering as restaurants, bars and other service-related businesses re-open.
Franchises also made a strong recovery, especially in the auto parts and dealers sector adding nearly 9,000 jobs last month.
"The labor market continues its slow recovery amid COVID-19 headwinds," Ahu Yildirmaz, vice president and co-head of the ADP Research Institute, said in a statement. "Although job losses were previously concentrated among small and mid-sized businesses, we are now seeing signs of the prolonged impact of the pandemic on large companies as well."