Small business owners cranked back up their hiring engines last month, eclipsing the six-figure threshold for only the second month in the past year, new data show.
Small employers added 102,000 jobs in October, up from an upwardly revised 93,000 the month before, according to the latest employment report released by payroll processing firm ADP. While that’s still down from a peak of 133,000 positions added in June, it marks the second straight month of improvement after a slump to close the summer.
Hiring by small businesses continues to mirror that of the overall economy, as employers of all sizes added 230,000 positions in October, representing the second largest monthly output in the past year, too.
“Employment continues to trend upward as we begin the last quarter of 2014, driven mostly by small to mid-sized companies,” ADP CEO Carlos Rodriguez said in a statement.