DOWNBEAT TREND: Small business hiring continued at a slower pace in November, with companies adding 81,000 jobs, payroll provider ADP said Wednesday, relying on data provided by its customers. Small company hiring has slowed in the second half of 2015, with an average 75,400 jobs added per month, compared to 107,000 the first six months of the year. In September, only 52,000 jobs were created.
WHAT’S GOING ON: Business owners are keeping a wary eye on the economy as well as their companies’ needs. Many have said in surveys they won’t take on new workers unless they have enough sustainable new revenue to support a larger staff. And some have said they’re concerned about their customers — businesses as well as indivisual consumers — cutting back on spending. Hiring has fluctuated since the end of the recession, and with many owners taking a conservative stance, small businesses aren’t expect to significantly increase their payrolls anytime soon.
UP NEXT: The Labor Department releases its November employment report on Friday. It won’t break down new jobs by company size, but will still give some indication of what companies are doing.