Intuit: Small Business Employment Index (June, 2014)
U.S. small businesses added 20,000 jobs in June, while employees worked fewer hours and made more money during the month. In addition, small business revenue per business increased by a larger margin than it has all year across all industries. June's increase brings total jobs added since March 2010 to 595,000. This is a 0.10 percent increase in June and when coupled with increases for each of the last three months, is indicative of the beginning of the recovery in small business employment.
“This month’s employment data makes for the fourth consecutive month in a row of small business job growth after a flat job market early in 2014. Aside from continued employment growth this month, results for compensation and hours worked were mixed, thus indicating that while the employment picture has improved, it hasn’t been a dramatic rise,” said Susan Woodward, the economist who works with Intuit to create the Intuit Small Business Employment Index.
Woodward went on to say, “The revenue figures for small businesses are better than they have been in years – they were up in April, and are up even more in May. The rise in revenues for ‘all’ is about ¾ of one percent, which is a lot, and if it continued for a year, would give us an increase of 10 percent. The question remains, ‘Will small companies hire as a result of seeing this increase in activity?’ We’ll get an idea from next month’s figures.”
Intuit publishes their Small Business Employment Index monthly, for more information regarding their most recent report, see: http://blog.intuit.com/employees/small-business-employment-grows-in-june-2014/#ixzz36cGroLeS
Source: Intuit Small Business Blog, July 1, 2014