Source: Intuit Small Business Economic Employment and Revenue Indexes.
July 2013 Intuit Economics
Both Small Business Employment and Revenues declined in July, 2013.
According to findings published in Intuit’s Small Business Employment and Revenue Indexes, small business employment in the United States lost 10,000 new jobs in July of 2013.
Compensation and hours worked also decreased during the month; average monthly compensation decreased by 0.2 percent in July, with average monthly pay declining to the equivalent of $2,692, down $7 from June. Average monthly hours worked by hourly employees also decreased by 0.3 percent in July, which is equivalent to 107.6 hours, representing an 18-minute decline from June.
Susan Woodward, the economist who worked with Intuit to create the indexes said, “The recovery for small business has been slower and more bumpy than for big business…”
At the same time, small business revenues saw an overall decline of 0.3 percent on a per-business basis in June, with the exception of the construction industry, which recorded a 0.2 percent increase.
Ms. Woodward went on to say, “Small business revenues have declined 2.5 percent on a per-business basis from their peak in November 2012. It’s unclear why revenues are dropping across industries. But we can attribute the decline in revenues per business in the real estate sector partly to more real estate agents entering the market, taking business from existing agents.”
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Source: Intuit, Inc.: Small Business Employment Declines in July.