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Small Business is the Backbone of the American Economy

30 May 2014 Blog

According to eBay Main Street, a recent study released by ADP showed that small businesses really are the backbone of the American economy. According to the study, from February to March of this year, small businesses created 72,000 jobs–_or 38% of all employment gains.

In addition, the study found that very small businesses–_those with 1 to 19 employees–_were responsible for 53% of the small business jobs created. The ADP National Employment Report provides a monthly snapshot of U.S. nonfarm private sector employment based on actual transactional payroll data.