Manpower Group is advising companies, educators and governments to strategically invest in small and medium-sized enterprises (SMEs), a key jobs generator, as the U.S. Bureau of Labor Statistics today reported the overall July jobless rate edged up to 8.3 % from June’s 8.2% rate.
The U.S. private sector added 163,000 new jobs last month, while June’s jobs figure was revised down from 80,000 to 64,000. Within the professional and business services sector, 49,000 jobs were added in July. Manufacturing employment rose by 25,000 jobs.
SMBs drive job creation
“Small and medium enterprises drive job creation when they are developed on the right platform,” said Jeffrey A. Joerres, ManpowerGroup Chairman and CEO.
“Stakeholders in the U.S. economy need to stay focused on what drives business and demand, and new companies play a critical role in jolting economic growth. But launching and sustaining entrepreneurs and their business models requires the right resources and frameworks.”
Personally, we see a lot of recommendations that governments and businesses should invest in small and medium-sized businesses, but Manpower Group apparently does put some money and energy into it globally.
Facilitating the growth of SMEs was one recommendation presented by the World Economic Forum Business 20 Task Force on Employment at the G20 Leaders’ Summit in Mexico in June.
ManpowerGroup has helped pioneer several public-private models to foster entrepreneurship, including New Business Starters (NBS) in Shanghai and INJAZ al-Arab, which works with corporate and government authorities in the Middle East and North Africa (MENA) in transforming youth into business leaders.
Working with the Shanghai government, ManpowerGroup helped launch NBS, which has worked on developing the entrepreneurial skills of more than 50,000 individuals. Shanghai’s municipal government uses the program to gather insight that informs their training and investment decisions when promoting business startups.
Learn more about these initiatives here: http://www.manpowergroup.com/social/srreport.cfm
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