Jobs Growth
Small Business Employment Continues Growth Trend
According to findings published in Intuit’s Small Business Employment and Revenue Indexes, small business employment in the United States added 25,000 new jobs in June of 2013, bringing the total of new small business jobs added to 405,000 since March, 2010.
Compensation and hours worked also increased during the month; average monthly compensation increased 0.5 percent in June, with average monthly pay reaching the equivalent of $2,721. Average monthly hours worked by hourly employees increased by 0.7 percent in June, which is equivalent to 108.9 hours, up from May's figure of 108.2.
Susan Woodward, the economist who worked with Intuit to create the indexes said, "The gains in small business employment this month are not as large as last month…however this month's employment gains, paired with the upward revisions for the previous several months, add up to the biggest gains we have seen in small business employment since the recovery began."
Despite the improving employment trends, the indexes also revealed that small business revenues saw an overall decline of 0.4 percent on a per-business basis. The real estate sector led the decline falling 1.1 percent and retailers followed with a 0.7 percent decline. One noted exception was the construction industry, which recorded a 0.6 percent increase.
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Source: Intuit, Inc.: Small Business Employment Continues Growth Trend.