With the holiday season behind us, small business hiring decreased to start the new year, adding 58,000 jobs in January, down from December’s 93,000. According to payroll provider ADP, the number is close to 2017’s January number of 62,000 jobs added at the beginning of Donald Trump’s presidency. “The payroll company compiles its report from data provided by its small business customers, those with one to 49 employees.”
Overall, a drop in hiring is to be expected as reports show that small businesses while at record highs in confidence, simply do not need to hire at the moment. “A Wells Fargo and Gallup survey released last week showed that about a third of small businesses plan to hire in the next 12 months, up 1 percentage point from a survey taken in November.” While not as high as some would have liked, the January small business hiring numbers are an ok start to 2018.