Small Businesses Struggle To Stay Competitive In Tight Labor Market

Small businesses are struggling to hold onto workers as inflation makes it more difficult to stay competitive in the job market. According to ADP payroll data, companies with less than 50 employees saw their head counts decrease in three of the last four months, while larger corporations continued to grow. William Dunkelberg, Chief Economist for the National Federation of Independent Business, explains why small businesses are more vulnerable to these economic pressures.
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