News

Private payroll on the upswing yet SMBs having tough time hiring

August 5, 2019

While private payrolls increased by 156,000 jobs last month — beating industry projections — small retailers are having a hard time finding workers.

The news comes as the U.S. economy shows signs of slowing, with labor market at nearly full capacity, according to a CNBC report.

The payroll figures come from ADP and Moody's Analytics. Payroll increased 112,000 in June.

"Job growth is healthy, but steadily slowing," Mark Zandi, chief economist at Moody's Analytics, said in a statement, according to the report. "Small businesses are suffering the brunt of the slowdown. Hampering job growth are labor shortages, layoffs at bricks-and-mortar retailers, and fallout from weaker global trade."