SMB Job Gains & Talent Shortages, Nebraska's Privacy Protection Act, Professional Services Expansion

May 20, 2024

11:07

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Episode notes

Small businesses have demonstrated job gains, particularly in the South and leisure industries, as highlighted in the podcast episode. According to the April ADP National Employment Report, small businesses added 38,000 jobs nationwide, with the majority of job growth occurring in the South. The leisure and hospitality sectors saw a notable increase of 56,000 jobs during this period. Conversely, the information sector experienced a decline of 4,000 jobs, potentially due to a skills gap and the influence of AI and automation.

This discrepancy in job growth between small businesses in the leisure industry and the information sector underscores the challenges faced by the latter due to technological advancements. The impact of AI and automation is evident in the information sector, resulting in job losses and a mismatch in skills. As technology continues to progress, small businesses in the information sector must adapt to remain competitive and address the challenges posed by automation and AI.

The expansion of professional services is a significant trend in 2024, as highlighted in the podcast episode. According to the data presented, 85% of organizations are planning to increase their professional services teams this year. This indicates a growing recognition of the importance of professional services in driving business objectives and profitability.

Three things to know today

00:00 Small Business Job Gains Highlight Opportunities Amid Economic Cooldown and Tech Talent Shortages

05:19 Nebraska Passes Personal Privacy Protection Act

06:40 Professional Services Expansion on the Rise: 85% of Organizations to Increase Teams in 2024

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