Small Business Finance News
Hiring Increasing Among Small Businesses, Survey Says
Written by Jenna Weiner
A new report from Paychex reports hiring to be increasing year-over-year.
Indications that the U.S. economy is emerging from the recession are increasing, as factors such as financing, and now, hiring are improving small business news.
Data from both payroll service Paychex and software provider Intuit show that confidence in this crucial sector is improving encouragingly, Bloomberg Businessweek reports.
Paychex, which released its figures Wednesday, reports companies that employ fewer than 100 employees saw checks per client rise by 2.8 percent, compared to the same time last year. Additionally, this represents the biggest gain in two years.
"The upward momentum is very impressive," Jim O'Sullivan, chief economist at MF Global in New York, told the source. "Disproportionately, job growth comes from the small business sector,” which he added is "key to a self-sustaining expansion."
Intuit's survey, while not directly comparable, does correspond to these results. In early March, it reported that its optimism index reached its highest point since the recession began in December 2007, hitting 94.5.
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