First spark of a jobs recovery

NEW YORK (CNNMoney.com) -- Main Street businesses shed another 18,000 jobs in February, bring the tally of jobs lost from America's small businesses to nearly 3 million since February 2008, according to a report released Wednesday by payroll processor ADP.

But there are also signs that the worst of the job hemorrhaging is over.

According to ADP (ADP, Fortune 500), small businesses -- those with less than 50 workers -- were hit hardest last month. Medium-sized businesses, with 50 to 500 employees, added 8,000 net new positions to their ranks. Joel Prakken, chairman of ADP researcher Macroeconomic Advisers, sees a turnaround on the horizon. "If the recent trend continues, and given first-quarter GDP growth of 5.9%, private employment could rise next month for the first time in two years," he said. Read more...