If Small Businesses Are Bummed, Why Are They Hiring?

Photograph by Thomas Barwick/Getty Images

Small and midsize employers added 145,000 jobs in September, driving most of the private sector hiring reported on Wednesday by payroll company ADP. Robust hiring by businesses with fewer than 500 employees belies the picture of Main Street paralyzed by uncertainty and weak demand. Small business confidence, as measured by the widely watched NFIB Optimism Index, has been at recession levels since 2008. What’s going on here?

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