Exile on Main Street isn’t just a Stones record: It’s how a lot of small business employees are probably feeling right about now. Thanks to the government shutdown, everyone’s looking at a wider batch of jobs data than usual to get a pulse check on the state of US hiring. Enter: ADP’s National Employment Report, released at the start of October, which looks at “anonymized weekly payroll data of more than 26 million private-sector employees in the United States.” For Main Street, the report looked bleak. Small businesses, defined by ADP as companies with 49 employees or fewer, shed approximately 40,000 jobs in September, while large businesses, with over 500 employees, gained 33,000. Rather than a blip, the findings from ADP’s latest report are a telling dispatch about the labor challenges facing small businesses right now, experts say. Keep reading for more on the small business sticky wicket.—NP |