For months, Americans were told that small businesses were hanging by a thread.
Television pundits, political commentators, and economic pessimists painted a picture of an economy on the verge of trouble. According to their narrative, Main Street was struggling, employers were pulling back, and hiring was destined to stall.
But new employment data just delivered a reality check.
Fresh payroll figures released by ADP show that private employers added 122,000 jobs in May, surpassing expectations and providing another sign that America’s job market remains far more resilient than many critics predicted.
Even more significant was who did the hiring.
Small businesses, long described by critics as victims of a weakening economy, were responsible for the largest share of new jobs.
Companies employing fewer than 50 workers added an impressive 67,000 positions during the month, a figure that surprised economists and delivered a major boost to confidence across the business community.
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