September 2012 marked the first time unemployment had fallen below 8 percent since the start of the recession in 2008, and recent reports show that this trend is continuing. With elections right around the corner and the holiday season fast approaching, providing jobs to those in need can help the economy as a whole with its ongoing march toward recovery.
A report from ADP on payroll statistics showed that private hiring is still on the rise, WCVB Boston reported. The source stated that 158,000 positions had been created nationwide, beating previous forecasts stating the figure would be at least 10,000 less. This report represents a new analysis method for ADP, collected using a combination of Department of Labor statistics and polling by Moody's Analytics.
The National Federation of Independent Businesses showed that small businesses are hiring just slightly more in October than they did in September, yet the trend continues to be in an upward direction. These entities were responsible for about one-third of all jobs created last month, showing that every segment of the market is gaining ground against economic fatigue. Currently, the average employment gain per firm is at least 50 employees for small entities, yet another increase from last year.