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Small Business Hiring Increases, According To Intuit
Written by Jenna Weiner
Published: 5/2/2011
Small business spurred hiring by 0.3 percent, but it will be some time before pre-recession levels are reached.
Small business news have reported positive economic indicators in the last few months, as lending, hiring and consumer demand have all seen improvements.
To further bolster this view of a recovering economy, Intuit's Small Business Employment Index is reporting that hiring in this sector grew by 0.3 percent last month, bringing the annual growth rate to almost 3.6 percent.
Furthermore, both hours worked and total compensation increased during April, with hourly employees working an average 109.8 hours - a 0.7 percent rise over March. Average monthly pay saw a 0.5 percent increase compared to March, with employees earning approximately $2,653 per month.
"Employment is up, hours worked are up and total compensation per employee is up. Moreover, employment is up across the country," said Susan Woodward, the economist who helped to create the index. "While we have a long way to go to full employment, we have seen continued improvement now for a year-and-a-half."
Despite these positive signs, experts believe it will be a while before the economy reaches pre-recession conditions, as unemployment remains high at 8.8 percent.
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