Small businesses are saving the economy from a recession for now

There were 4.76 million job openings in November at businesses with 1 to 49 employees. Despite layoffs at major companies, small private companies are adding jobs. Robust job numbers are one reason that we’re not in a recession yet. Data shows a boom in small businesses likely to employ workers, suggesting job growth could keep going well into the future. Sign up for our weekday newsletter, packed with original analysis, news, and trends — delivered right to your inbox. Something is loading. Thanks for signing up! Access your favorite topics in a personalized feed while you’re on the go. Email address By clicking ‘Sign up’, you agree to receive marketing emails from Insider as well as other partner offers and accept our Terms of Service and Privacy Policy . Small businesses are keeping the economy strong. While large companies like Goldman Sachs, Amazon, and Salesforce are cutting staff this year, private firms with fewer employees are still hiring. Additionally, layoffs overall in the US are very low. Robust job numbers are one reason that we’re not in a recession yet, as economists previously told Insider . The US added 223,000 jobs this past December and the unemployment rate shrank […]

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