My Queue

There are no Videos in your queue.

Click on the Add to next to any video to save to your queue.

There are no Articles in your queue.

Click on the Add to next to any article to save to your queue.

There are no Podcasts in your queue.

Click on the Add to next to any podcast episode to save to your queue.

You're not following any authors.

Click the Follow button on any author page to keep up with the latest content from your favorite authors.

Employment? Down. Retail? Down, But Not Out

min read
retail-sales.jpg

American small businessses shed 262,000 jobs last month, according to a report (PDF) issued today. The ADP Small Business Report surveys American operations that have less than 50 employees and states that February job losses for entrepreneurial operations were worse than those in January.

The service sector alone lost 146,000 positions while the "goods-producing sector" of small business let go of 116,000 people, according to ADP. Medium-sized businesses (those with more than 50 and less than 500 employees) downsized by 314,000 positions. "The magnitude of this month's job loss indicates that the recession has spread aggressively to small-size businesses," states Joel Prakken of Macroeconomic Advisors. "Earlier in the recession these businesses had demonstrated more resiliency than medium- and large-size ones, but that is no longer the case."

The report marks four continuous months of job losses for small businesses. Meanwhile, Retail Metrics states that, likewise, same-store sales in the United States are projected to fall for the fifth straight month for February, with a 1.1 percent decline expected. That would be an improvement over January's 1.8 percent drop, however.

More from Entrepreneur

Amina AlTai teaches entrepreneurs and intrapreneurs how to balance a thriving career, body and mind.
In as little as seven months, the Entrepreneur Authors program will turn your ideas and expertise into a professionally presented book.
Create your business plan in half the time with twice the impact using Entrepreneur's BIZ PLANNING PLUS powered by LivePlan. Try risk free for 60 days.

Latest on Entrepreneur