Credit Cards Create Jobs
The American Bankers Association and Keybridge Research have released a study that shows nearly 40,000 jobs in the Massachusetts area were directly or indirectly created as a result of credit card borrowing by small businesses between 2003 and 2008.
On the national level, the survey noted that credit card lending to small businesses during the same timeframe resulted in the creation of 592,000 small business jobs with an addition 1 million indirectly created. As a result of the credit card’s impact on job creation, the study noted, any reduction in small businesses’ access to credit cards could result in a drop in their ability to hire new employees (Boston Globe).
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