Small businesses are losing ground in the hiring game.
Head counts at companies with fewer than 50 employees declined in three of the past four months, according to ADP payroll data, even as employment at larger firms continued to grow.
As The Wall Street Journal reports, owners of many small companies say inflation has added to the pressures of an already tight job market, making it increasingly difficult to keep pace with the wages and benefits offered by large employers. The hiring challenges are stunting growth, small business owners say, and further clouding their deteriorating economic outlook.
Sixty-three percent of small business owners say that hiring challenges are affecting their ability to operate at full capacity, according to a June survey of more than 825 small businesses. Read the full story.
