Small businesses once again accounted for most of the private sector’s stronger-than-expected growth last month, according to a report from the payroll processing firm ADP, as further data points to a stable market despite a slowdown in total employment.
The Bureau of Labor Statistics reported Tuesday the U.S. had 7.62 million available positions, the most since March 2024 (8.2 million), with a vast majority of job openings coming from businesses with fewer than 10 employees. The rate at which people voluntarily exited their jobs each month dropped to 1.9%, the lowest since 2020.