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Fed chair notes that more than half of jobs added during recovery came from small businesses
Reported by: Associated Press
Reported: Thursday, May 15, 2014 6:11 PM EDT
Federal Reserve Chair Janet Yellen is spotlighting the fact that U.S. small businesses have accounted for more than half the job gains during the nearly 5-year-old economic recovery.
Yellen says the Fed has tried to foster the conditions for job creation by keeping interest rates near historic lows, but that "overwhelmingly, it is businesses that create jobs."
By contrast, governments have shed 2.6 percent of their workers since early 2010.