Small companies have been known for creating jobs, but some recent data highlights their power plus the effect of contract labor.
“I looked at about 1,600 companies that have gone public in the U.S. since 2000, and they create surprisingly few jobs. … about 51 jobs total around the world, which is a really small number.” – Gerald Davis
Evidently, the job growth witnessed in the US must be coming from private companies (large and small), and from the rise of the 1099 and Gig economies. Corporations are increasingly likely to hire part-time or temporary contractors rather than full-time employees. That also means workers are more likely to set themselves up as small businesses to be able to offer those services. The corporations see decreased expenses by not having to pay for benefits. The workers see less-stable employment while also paying for those benefits themselves. This may be one reason corporate wealth is increasing and private wealth is decreasing.
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