ADP released its February 2022 numbers. You can gain access to the report HERE. Small business is down 96K and Franchises are up 45K. Total private payrolls are up 475K. Click on the national report HERE and you will notice that small business is down, midsize companies are up, and large companies are up. There are different ways to interpret this may have to do with nature of companies and the increase in investments.
What I would like to see is what is going on with imports-exports going forward a few months and see if there are any improvements there (Its not a perfect thing you can just trying and understand.). There are some other statistics on the page that show Leisure & Hospitality along with Trade, Transportation & Utilities increased the most.
I should also state that a healthy economy will have a solid mix of small, mid and large businesses in order to grease the wheels of capital dispersion as well as hedge against various market factors. Sometimes small business might be up and large business down. Small business also encourages greater innovation in society as new ideas are pushed to develop for scalability and public consumption. That can't happen as well in many large and clunky companies. Policies should focus on economic resilience and growth with multiple points of market entry for entrepreneurs and workers.
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