The U.S. added 257.000 jobs in December; the most it has added for a month all year. A closer look at the numbers show just where those jobs are being created.
- 97,000 added in large businesses
- 95,000 added in small businesses
- 65,000 added in medium businesses
The largest growing segment size was the medium (50-499 employees) businesses which saw 65,000 new jobs created. Large companies (1000+ employees) saw the next largest growth with 58,000 new hires. In the small business category, more people were hired in companies with 1-19 employees which means the really small businesses are growing.
As for the industry, the service industry saw the bulk of the job growth with much of that coming from transportation, utilities, trade, as well as business and professional services. The average growth for the year was about 200,000 jobs per month. This is about an average of 40,000 less than last year, but strains on the energy and manufacturing sectors have dragged down the numbers.
ADP Research provided the analysis for the job numbers in December. The analysts believe that if this growth can be sustained that the U.S. will be at full employment by the summer.
These numbers also underscore that small businesses are growing and in need of credit. The LEVERAGE Business Lending program is a great way to help offer these businesses the loans they need through the Small Business Administration SBA program.