When a national jobs report for February is released tomorrow, it’s widely anticipated to deliver good news for the first time in many moons.
MarketWatch reports that hiring is expected to show an increase in new jobs that’s above and beyond the miniscule gains and tremendous losses seen for the better part of the last three years. In what should come as a surprise to no one, economists suggest that the growth is being driven by small businesses nationwide.
In all, MarketWatch writes, the small business sector has been responsible for adding about 100,000 over the last three months, accounting for 45 percent of all job growth in the nation. That’s a very impressive total when you consider that large businesses are the ones best equipped to weather economic storms like the recent recession.
Yet there appears to be some brighter days ahead for small businesses, even if we recently heard that optimism doesn’t exactly pervade the world:
Jonathan Basile, director of economics at Credit Suisse, called the small-business hiring trend the “return of the little guys.”
“The lackluster performance of the small-business sector was the missing piece to the jobs recovery until this recent awakening,” he added.
It’s a critical time for companies to be hiring, because the public sector is about to get slammed by layoffs. Ongoing labor disputes for school teachers, firefighters and police, as well as rising deficits at the state and federal levels, means that inevitably there’s going to be thousands looking for jobs this summer and fall.
Assuming everything goes well, small business should be able to pick up some of that slack. How are you feeling about the hiring forecast as we move into spring?