ADP Small Business Report for Janaury 2009 was released today. It shows that the recession has deepened on Main Street.
• Total small business employment: -175,000
• Goods-producing sector: -74,000 small business jobs
• Service-providing sector: -101,000 small business jobs
This marks the third consecutive month of decline in the small-size business sector. Although January’s number shows fewer job losses than December, the recession continues to have an impact on this space. Although job declines have consistently been interpreted as mostly affecting larger corporations, businesses with fewer than 500 employees lost 430,000 jobs in the month of January.
It continues to be alarming how little Washington is paying attention to small business in their policy decisions.