Reversing The Jobs Wipeout: What $5,000 Can Do
America’s smallest businesses shed another 12,000 workers last month, extending a two-year streak in which job losses have mounted every month, according to a report released Wednesday by payroll processor ADP.
But the tide could be turning: The pace of losses has slowed, and one segment of the market — companies with 50 to 499 workers — added a net 9,000 positions in January.
And some business owners say President Obama’s recent proposal for a $5,000 per-worker tax credit for new hires this year could help goose the recovery.
“I am personally extremely excited about the tax credit,” said Ryan Millman, president of Nations Photo Lab in Owings Mills, Md.
