ADP announced that business added 215,000 new jobs during December, significantly more than economists expected. What does the latest job Growth Numbers mean for small business?
According to ADP, one of the largest payroll processing companies in the country with over $10 billion in revenues, U.S. companies hired 215,000 workers during December. This is significantly more than the 140,000 workers economists had expected.
Such strong hiring is a positive sign, especially considering that the fiscal cliff negotiations—and all the accompanying uncertainty—were still ongoing during the entire month. If this trend continues, it could be a sign that companies are increasing their hiring and investing plans. It would also increase consumer income and purchasing power, which in turn drives business revenue growth.
The Department of Labor will release its numbers Friday, and if those numbers corroborate ADP’s report, it should be taken as a positive signal.
A little about Mike Periu
Periu founded Proximo, LLC nearly 15 years ago. The company provides small business education and training services with an emphasis on finance and technology.
Periu teaches empowerment through entrepreneurship and economic opportunity. He regularly appears on television and radio talking about these subjects.
Periu also writes for leading blogs about finance. These include: American Express OpenForum, Yahoo! Finanzas and the Huffington Post.
Periu studied Finance and International Business at Georgetown University. He is a Board member at the Council for Economic Education.
