Job creation smashed expectations in December, as employers finished the hiring season strong, optimistic about the end of Bidenomics and the return of the Trump bump. Employers added 256,000 jobs last month, and the unemployment rate fell to 4.1%. So much for Federal Reserve Chairman Jerome Powell’s weakening labor market.
It’s New Year in America again.
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Job creation in November bounced back, with 227,000 jobs created, after coming to a standstill in October.
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Some 99% of American companies are small businesses, and 100% of businesses started out small, but a recently finalized rule from the Biden administration’s Labor Department will make it harder for small businesses to start, grow and succeed.
As of last May 1, a White House news release pointed out, “Young firms, which often start small with few employees, are a driving force in job creation.” That’s been particularly true since the COVID-19 pandemic, as small businesses with fewer than 50 employees have accounted for a growing share of new jobs.
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