Advancements in technology and longer-run changes in the economy can lead to job loss in big businesses while small businesses add jobs.
One reason big businesses may be eliminating jobs while small businesses are adding them is due to longer-run changes in the economy, such as new technology. For example, advancements in technology in industries such as auto manufacturing can lead to increased productivity and a reduced need for workers.
This can result in job loss in larger firms. Additionally, the internet has created jobs but also caused job loss in industries such as travel agents and bookstores. It's important to note that short-run fiscal policies aimed at reducing unemployment can create jobs, but they may not replace jobs lost due to these longer-run economic changes.