ADP Small Business Report Shows 91,000 Small Business Jobs Added in June Small Businesses in the Service-Providing Sector Continue to Drive Employment Growth
ROSELAND, New Jersey - July 5, 2007 - Private employment among small businesses (U.S.companies with fewer than 50 employees) increased by 91,000 in June, according to the ADP Small Business Report SM released today. The ADP Small Business Report is based on data from the ADP National Employment Report SM, created by ADP in partnership with Macroeconomic Advisers, LLC. In addition to providing monthly information on small business employment trends, the ADP Small Business Report includes information about short-term movements in the goods-producing and service-providing industry sectors.
Small Business Employment Highlights June Report:
- Total small business employment: +91,000
- Goods-producing sector: +7,000
- Service-providing sector: +84,000
The ADP Small Business Report provides business owners, CPAs and other advisors with unique and reliable data each month, said Don McLoughlin, Vice President of Marketing, ADP Small Business Services. With over 55 years of experience in the small businesses community, we know that small businesses look for key data to make informed decisions about day-to-day business activities.
Nonfarm private employment among small businesses in June grew 91,000, said Joel Prakken, Chairman of Macroeconomic Advisers, LLC. This month's ADP Small Business Report suggests an acceleration of employment.
Prakken added, Small businesses accounted for nearly two-thirds of the increase in total employment from businesses of all sizes in June. The gains in employment at small businesses were concentrated in the service-providing sector of the economy, but also rose by 7,000 in the goods-producing sector. This growth is in contrast to an overall decline in employment among goods-producing businesses of all sizes.
Additional charts on monthly job growth and job levels, along with historical data, are available at http://www.smallbusinessreport.adp.com.
ADP Small Business Services provides payroll and business solutions for businesses with fewer than 50 employees. For more information on ADP Small Business Services, please visit: http://www.smallbusiness.adp.com.
The July 2007 ADP Small Business Report will be released on Thursday, August 2, 2007.
About the ADP Small Business Report
The ADP Small Business Report is a monthly estimate of private nonfarm employment among companies in theUnited Stateswith 1-49 employees. In partnership with Macroeconomic Advisers, LLC, the ADP Small Business Report is produced on a monthly basis by ADP Small Business Services, a provider of payroll, tax management, human resources, professional employer organization (PEO) and administrative services outsourcing (ASO) solutions to small businesses across all industries. ADP Small Business Services is part of ADP Employer Services, a leader in outsourced payroll, HR and benefits administration solutions. The information included in the ADP Small Business Report is based on data from the ADP National Employment Report, a measure of employment derived from an anonymous subset of 500,000 U.S.business clients. During the first six months of 2007, this subset represented approximately 383,000 U.S.business clients and nearly 23 million U.S.employees working in all private industrial sectors. The data is collected for pay periods that can be interpolated to include the week of the 12th of each month, and processed with statistical methodologies similar to those used by the U.S. Bureau of Labor Statistics to compute employment from its monthly survey of establishments.Due to this processing, this subset is modified to make it indicative of national employment levels; therefore, the resulting employment changes computed for the ADP National Employment Report and the ADP Small Business Report are not representative of changes in ADPs total base of U.S. business clients or ADPs total base of U.S. small business clients. The ADP National Employment Report, created by ADP Employer Services, a division of Automatic Data Processing, Inc. (ADP), in partnership with Macroeconomic Advisers, LLC, is based on actual payroll data and measures the change in total nonfarm private employment each month
For a description of the underlying data and the statistical properties of the series, please see ADP National Employment Report: Development Methodology at http://ADPemploymentreport.com/methodology.aspx.
Automatic Data Processing, Inc. (NYSE: ADP), with over $7 billion in revenues and more than 570,000 clients, is one of the world's largest providers of business outsourcing solutions. Leveraging more than 55 years of experience, ADP offers the widest range of HR, payroll, tax and benefits administration solutions from a single source. ADP's cost-effective, easy-to-use solutions for employers provide superior value to companies of all types and sizes. ADP is also a leading provider of integrated computing solutions to auto, truck, motorcycle, marine and recreational vehicle dealers throughout the world. For more information about ADP or to contact a local ADP sales office, reach us at 1.800.225.5237 or visit the company's Web site at www.ADP.com.
About Macroeconomic Advisers, LLC
Macroeconomic Advisers, LLC (MA) has been the most trusted source for U.S. macroeconomic forecasts and commentary, monetary and fiscal policy analysis, and econometric modeling for over 20 years. MA has three primary service lines: (1)Macroeconomic Modeling. MA licenses its structural econometric model of the U.S.economy to firms who use it to produce their own macroeconomic forecasts; (2)U.S. Economic Forecasts. MA produces monthly economic forecasts, weekly economic commentaries, and analysis of economic indicators; (3)Monetary Policy Insights (MPI). Directed by MA co-founder and former Federal Reserve Board Governor Laurence Meyer, MPI ties MA's economic forecasts to the prospective course of monetary policy and the resulting implications for fixed-income markets. MA's clients include leading financial service firms, nonfinancial corporations, key policymaking agencies of the U.S. government, as well as State and Foreign Government agencies. Additional information on Macroeconomic Advisers, LLC is available on the company's Web site, www.MacroAdvisers.com.
The ADP Small Business Report is a trademark and service mark of ADP of North America, Inc.