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November hiring for small business remains strong despite drop

By all accounts, the American economy is strong.  Revenue is increasing on a year over year analysis and job growth continues to beat 2016 numbers.  Despite this positive outlook,  November hiring for small businesses did see a drop from October levels.  When learning about this, please keep in mind that in 2016 a similar drop occurred from October to November.

According to payroll provider ADP, small businesses added 50,000 jobs in November versus 67,000 jobs in October.  This is still a big increase over September numbers when Hurricane Harvey and Irma saw a decrease of 28,000 (https://www.adpemploymentreport.com/2017/September/SBS/SBS-September-2017.aspx).

Overall job numbers are solid however they are falling short of expectations which is a slight cause for concern among some experts.

Currently, according to Fox Business “Small businesses averaged 58,000 new jobs each month for the first 11 months of 2017.”

http://www.foxbusiness.com/markets/2017/12/06/small-businesses-hire-at-moderate-pace-in-november-adp-says.html

 

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