Good news for employers and job seekers: According to October’s National Employment Report, employment in the private sector jumped by 110,000 jobs from September 2011 to October 2011. Even better news: The estimated increase in employment from August 2011 to September 2011 was revised, up to 116,000 jobs from the initially reported 91,000 jobs.
If the trend continues, one could infer that the country is indeed turning a corner, back from the brink of economic disaster, with the slow trickle of new jobs easing the drought we’ve been suffering through for the last few years.
The report, sponsored by leading U.S. payroll service provider ADP and maintained by economic consulting firm Macroeconomic Advisers, LLC – measures the change in total nonfarm private employment each month. Highlights from October’s report include:
• Total employment increased by 110,000 jobs from September to October.
• Small businesses (payrolls with 1-49 employees) increased by 58,000 jobs from September to October.
• Medium businesses (payrolls with 50-499 employees) increased by 53,000 jobs from September to October.
• Large businesses (payrolls with more than 499 employees) decreased by 1,000 jobs from September to October.
More small and medium sized businesses opening their doors to job seekers — some who have no doubt been on the unemployment line for some time — is a good thing, but employers can’t be too careful about the new investments they’re making in their workforce. Be sure to contract with an employment screening service to conduct a thorough background check on every prospective employee. If you want business to continue to get better, you need to protect your investments and make wise, informed decisions regarding new employees.