Small companies reduced hiring in April, adding 61,000 jobs

Small businesses added 61,000 jobs in April, down nearly half from the revised 117,000 in March and 91,000 in February, according to payroll provider ADP.

The drop indicates that business owners, while increasingly confident since the election, are holding on to their cautious approach to expanding their companies.

The company's overall customers, which range from the tiniest companies to major corporations, added 177,000 jobs, down from 255,000 in March but still a strong figure.