Small Business Employments Shows Slight Increase In December
Written by Ken Gaebler
Small business employment figures continue to inch upward while wages continue to stagnate.
Small business owners had more reasons than just the holiday season to be happy this past December. Recent news for small businesses showed that employment in the sector went up.
The Intuit Small Business Employment Index revealed that in December small business employment increased by 0.3 percent for an annual growth rate of approximately 3.4 percent. However, wages remained flat during this period, despite an increase in hours worked.
During December, the average worker received $2,607 in pay - a nearly 1 percent decline from the revised November figure of $2,609 per month.
"The weakness of the overall employment picture is still reflected in small business compensation," said Woodward. "Though small businesses are hiring and asking their people to work longer hours, they don’t have to pay more to get people. While compensation is flat, these numbers don't mean that people didn’t get overtime and bonuses in December – they did. But on a seasonal and trend adjusted basis, compensation is not up."
Despite this improvement, the overall unemployment rate hit a 10-year peak in 112 markets across the country, according to figures from the U.S. Bureau of Labor Statistics.
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