Small business employment sets another record

Employment in Nevada firms with less than 100 employees totaled 603,000 as of the second quarter of 2016, which translates into a new all-time record. This is the first time that the 600,000 job threshold has been crossed, said Tim Wilcox, an economist for Nevada’s Department of Employment, Training and Rehabilitation. This is an increase of nearly 12,200 jobs from the first quarter of the year.

“All told, the 21,900 job year-over-year gain recorded in this year’s second quarter translates into the 22nd consecutive quarter of annualized growth,” Wilcox said in a press release. “Furthermore, it represents the strongest advance during the recovery period.”

Prior to the recession, small business employment peaked at just over 585,000 in the fourth quarter of 2007. As the downturn unfolded, jobs fell to 510,000. At its pre-recession peak, small businesses accounted for 52 percent of total private sector employment. The most recent information shows that employment in these establishments represent 53 percent of the total.