Small-Business Hiring Numbers Donít Gibe With ADPís, Either.
We mentioned earlier that the ISM service-sector survey was at odds with the ADPís blockbuster private-job growth estimate for December.
Small businesses just shot another hole in the ADPís numbers.
The payroll management firm this morning said that small businesses contributed 148,000 to the total 325,000 private jobs it estimates were added in December.
This afternoon, economist Bill Dunkelberg at NFIB, the main trade group for small businesses, says that, by his groupís measure, ďDecemberís jobs numbers fizzled, with the net change in employment per firm turning negative again,Ē down an average 0.15 workers per firm.
Thatís based on the organizationís monthly economic survey, which is due for release on Tuesday.
Seasonally adjusted, 13% of owners added an average of 2.6 workers per firm during ďthe past few months,Ē 12% cut an average 3.5 workers per firm, and 75% made no net change, the NFIB says