Small Business Hiring Continues To Creep Up
Written by Ken Gaebler
Intuit's Small Business Employment Index registers a 0.2 percent increase in hiring.
As March comes to an end, a number of surveys and reports are flooding small business news - and many of them are finding that things are looking up for the sector.
According to Intuit's Small Business Employment Index released Tuesday, small business employment climbed in March in all nine divisions for a national rate of 0.2 percent, coming to an annual growth rate of approximately 3 percent.
However, it wasn't all good news, as hours worked by employees continued to increase and compensation remained flat. The survey found that small business hourly employees work an average of 107.7 hours in March, up from 107.6 hours in February, while the average worker made $2,614, compared to $2,615 in February.
"There is no sign of any pressure on small businesses to pay people more," said Susan Woodward, an economist who worked to create the index with Intuit. "This should not be a surprise given the high unemployment rate, especially among unskilled workers, and considering that small businesses use relatively more unskilled labor than larger businesses do."
On Wednesday, figures for the national employment rate overall for the month will be released as part of the ADP National Employment Report, which recorded the creation of 217,000 new jobs in February.
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