Black Friday Sale! 50% Off All Access

Time to Hire?... Maybe Not So Fast Even as the pace of hiring eases, small businesses continue to haul the job train along. Is your business hiring?

By Catherine Clifford

Entrepreneur+ Black Friday Sale

Our biggest sale — Get unlimited access to Entrepreneur.com at an unbeatable price. Use code SAVE50 at checkout.*

Claim Offer

*Offer only available to new subscribers

Opinions expressed by Entrepreneur contributors are their own.

Time to Hire? ...  Maybe Not So FastBusiness owners trying to figure out whether to add new employees might be facing a tougher decision after today's disappointing jobs report. The pace of hiring slowed in March, casting doubt on the pace of the U.S. economic recovery.

But one thing is for sure: The smaller and midsize companies are creating the lion's share of jobs. So is it time for you to hire the help you need?

Today's report from the Bureau of Labor Statistics showed that the U.S. economy added 120,000 jobs last month, a far cry from the 246,000 jobs the economy has been adding on average in the past three months.

Related: Recruiting and Hiring Top-Quality Employees

Through the recovery, small businesses have been hiring at a much faster rate than their larger counterparts, according to recent report from private payroll company Automatic Data Processing. ADP says that small (1 to 49 employees) and midsize (50-499) payrolls have added far more jobs each month than large companies (500 employees and more).

In the three months ended in March, small payrolls added 310,000 jobs, more than six times the 51,000 jobs that large businesses added. (Note: Some large businesses break their payrolls down into smaller bits, and so some large business job growth ends up being tallied on smaller payrolls.)

Small Business: Where the Jobs Are Coming From

Related: How to Hire Workers for Crummy Jobs

This hiring trend would support the premise behind the JOBS Act, which President Obama signed into law yesterday, giving small businesses and entrepreneurs greater access to capital. "Overall, new businesses account for almost every new job that's created in America," said Obama from the Rose Garden as he signed the bill.

Feedback: Does the most recent read on the labor market change your plans about bringing on that next employee? Leave a comment below and let us know.

Catherine Clifford

Senior Entrepreneurship Writer at CNBC

Catherine Clifford is senior entrepreneurship writer at CNBC. She was formerly a senior writer at Entrepreneur.com, the small business reporter at CNNMoney and an assistant in the New York bureau for CNN. Clifford attended Columbia University where she earned a bachelor's degree. She lives in Brooklyn, N.Y. You can follow her on Twitter at @CatClifford.

Want to be an Entrepreneur Leadership Network contributor? Apply now to join.

Business Ideas

63 Small Business Ideas to Start in 2024

We put together a list of the best, most profitable small business ideas for entrepreneurs to pursue in 2024.

Growing a Business

5 Reasons Why 2025 Will Be Your Most Amazing Year Yet as an Entrepreneur

2025 is set to be a pivotal year for entrepreneurs, driven by a combination of favorable economic, political and market conditions.

Social Media

5 Women Entrepreneurs Share Their Top Advice for Finding Your Path to Career Success

Learn the expert career tips shared by the speakers at our live "Real Talk With Inspiring Entrepreneurs" event.

Leadership

How Personality Types Can Help You Identify Employee Strengths and Boost Team Performance

Here's how leaders can unlock their team's potential by understanding and leveraging personality types to align individual strengths with roles that foster productivity, collaboration and engagement.

Marketing

7 Innovative Marketing Ideas That Will Help Your Brand Stand Out This Holiday Season

These seven creative holiday marketing strategies can help your business stand out from competitors, connect with audiences and make a real impact.