Small Business Employment Growing, Outpacing Overall Employment - InformationWeek

InformationWeek is part of the Informa Tech Division of Informa PLC

This site is operated by a business or businesses owned by Informa PLC and all copyright resides with them.Informa PLC's registered office is 5 Howick Place, London SW1P 1WG. Registered in England and Wales. Number 8860726.

IoT
IoT
Mobile // Mobile Applications
Commentary
6/29/2010
05:23 PM
Jake Widman
Jake Widman
Commentary
50%
50%

Small Business Employment Growing, Outpacing Overall Employment

The latest figures from Intuit's Small Business Employment Index show small businesses added roughly 18,000 new jobs in June. Hours worked and compensation likewise increased.

The latest figures from Intuit's Small Business Employment Index show small businesses added roughly 18,000 new jobs in June. Hours worked and compensation likewise increased.The added jobs translate to a 0.09% growth in June, for a 1.1% annual growth rate. That's a slightly lower growth rate than in previous months (see graph). "At this point in a recovery," said economist Dr. Susan Woodward, "the labor market is still sufficiently slack so small businesses should be hiring vigorously. They are hiring, but not as fast as in the first quarter."

intuit small biz index June

Intuit's Small Business Employment Index continues to rise but has leveled off a little. Graph courtesy of Intuit.

Further good news comes from the fact that compensation is also increasing, albeit slightly. It's now $2,577 per month, a $7 increase from May. At the same time, monthly hours worked increased by a tenth of an hour, for a net wage gain of four cents an hour. "We do not see the same slowing in compensation as in employment or hours worked," said Woodward.

The Index is based on aggregate data from 57,000 businesses with fewer than 20 employees and that use Intuit Online Payroll.

More From InformationWeek SMB:

We welcome your comments on this topic on our social media channels, or [contact us directly] with questions about the site.
Comment  | 
Print  | 
More Insights
News
The State of Chatbots: Pandemic Edition
Jessica Davis, Senior Editor, Enterprise Apps,  9/10/2020
Commentary
Deloitte on Cloud, the Edge, and Enterprise Expectations
Joao-Pierre S. Ruth, Senior Writer,  9/14/2020
Slideshows
Data Science: How the Pandemic Has Affected 10 Popular Jobs
Cynthia Harvey, Freelance Journalist, InformationWeek,  9/9/2020
White Papers
Register for InformationWeek Newsletters
Video
Current Issue
IT Automation Transforms Network Management
In this special report we will examine the layers of automation and orchestration in IT operations, and how they can provide high availability and greater scale for modern applications and business demands.
Slideshows
Flash Poll