Jobs On The Rise In US

31 Jan 2013

Small businesses have added about 192,000 jobs in December last in America, while big business cut down jobs by 2,000 in the same month, statistics reveal. What this shows is a conscious effort by Americans to help out their fellow men during the ongoing economic crisis that appears to be slowly lifting.

A report by the Payroll Processor, jointly developed with Moody’s analytics shows that small businesses with less than 50 employees each did most of the hiring in the month under review, but large businesses with more than 500 employees each cut down 2,000 jobs during the same period.

Industry-wise, it was the professional firms that led the gains with 40,000 jobs, and the big business of manufacturing slashed 3,000 jobs. American stock index did not, however, react to the lay offs. Economists feel that the trends bode well for the economy.

The government is expected to come out with its own version of the trends, and it is expected to prove hiring is steady and spilling into New Year.

Over all, the US economy is stated to have shrunk by 0.1% in the fourth quarter for the first time since recession began in 2009. This was attributed mainly to hectic negotiations regarding fiscal cliff, which eventually was warded off owing to the typical bipartisan approach in America.