{"id":7922,"date":"2010-08-11t08:28:44","date_gmt":"2010-08-11t12:28:44","guid":{"rendered":"https:\/\/48e130086c.nxcli.net\/?p=7922"},"modified":"2023-10-26t09:25:15","modified_gmt":"2023-10-26t13:25:15","slug":"sageworks-adp-report-continuing-small-business-slowdown","status":"publish","type":"post","link":"\/\/www.g005e.com\/2010\/08\/11\/sageworks-adp-report-continuing-small-business-slowdown\/","title":{"rendered":"sageworks, adp report continuing small business slowdown"},"content":{"rendered":"

sales, profits, payrolls under pressure.<\/strong><\/p>\n

dreary new economic trend reports from sageworks and adp are mirroring last week’s dismal findings from intuit, surepayroll<\/a> and the u.s. bureau of labor statistics<\/a>.<\/p>\n

adp’s monthly payroll survey shows american business added a paltry 42,000 jobs in july, continuing a six-month stall in hiring. at the same time, sageworks, the financial analytics software maker, shows small business cost-costing was the only thing supporting margins.
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the adp national employment report, said adp ceo gary butler, “shows continued weakness in the jobs market,\u00a0 in part caused by the uncertainty in the economy and general business climate.”<\/p>\n

“american businesses are on the cusp of recovery, but more effective incentives are needed to encourage business investment resulting in the creation of more jobs,” butler says.<\/p>\n

july’s rise in private employment was the sixth consecutive monthly gain reported by adp. however, over those six months increases have averaged a modest 37,000, with no evidence of acceleration.<\/p>\n

meanwhile, sageworks reports continuing sales declines at small businesses.<\/p>\n

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only payroll cuts are helping managers maintain and boost margins.<\/p>\n

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it’s hard to expect increases in hiring anytime in the near future, at least not until sales are consistent and sustainable.<\/p>\n