... private sector is populated by small businesses and the other half by large businesses. Or, put another way, in 2006, 60 million people were employed by smalls, and 60 million by large.5 Small ... creation around business cycles can differ. Source: U.S. Small Business Administration, Office of Advocacy, from data provided by the U.S. Department of Labor, Bureau of Labor Statistics, Business ... the quarter in which a business opened. 16 The Static Picture: How Many Workers Do Small Businesses Employ? The private sector consists of small businesses and large businesses. And the government...