Layoffs Surge Among Small Employers
Posted by: Nick Leiber on March 04, 2009
Back in December, we published a special report detailing how employers with limited resources could take advantage of layoffs to find experienced talent. In our overview story, we cited an ADP National Employment report that showed small businesses had dropped 79,000 jobs in November. It was the second consecutive month of job losses for small businesses, in six years. But at the time, it appeared as if small businesses, which the report defines as those with 49 employees or less, were faring better than their larger counterparts.
Today’s ADP report shows that’s no longer the case: small businesses lost 262,000 jobs in February, marking the fourth consecutive month of decline. (Some 175,000 losses were reported in January.)