Good news -- job growth for the month of August was better than expected.
U.S. businesses stepped up hiring last month, adding workers at a greater-than-expected pace, according to a new report from payroll giant ADP. The unexpected surge may suggest that the healing labor market is faring better than previous figures showed.
Private companies in August brought on 201,000 new workers in August. This is considerably higher than economists’ forecasts: Observers predicted 149,000 jobs added last month. July’s gain was upwardly revised by 10,000 to 173,000.
Small and medium-sized businesses contributed the lion’s share of the growth. Large corporations added only 8%, some 16,000.
But isn't this administration a nightmare for small businesses? If that's the case, how did small businesses manage to contribute 92 percent of the new jobs?
As long ago as yesterday, Republicans were wishing and hoping that tomorrow's jobs numbers would be bad. A glimmer of hope for their side after a momentous Democratic convention.
So much for that idea. Team Romney keeps on losing.