Employment continues to rise in February

3/2/2011

Now that they have greater access to commercial loans, small businesses are increasingly hiring new employees. The latest ADP National Employment report highlights this growth, reporting that employment in the private sector increased by 217,000 jobs from January to February.

The majority of these gains came from the nonfarm private sector and continues the trend observed since the middle of last year. The average gain from December through February is nearly four times the average gain of the previous six months, which was observed at 63,000.

"Employment in the service-providing sector rose by 202,000 in February, marking 13 consecutive months of employment gains," notes the report. "Employment in the goods producing sector rose 15,000, the fourth consecutive monthly gain. Manufacturing employment rose 20,000, the fifth consecutive monthly gain."

Small businesses are largely seen as the primary drivers of employment, so recent growth similarly bodes well for the fortune of small companies. With President Barack Obama looking to enact further plans to bolster small businesses, things are looking up for entrepreneurs across the country.