Small Business Finance News

Small Businesses Hiring, But At Slower Rate

Written by Jenna Weiner
Published: 10/5/2010

Employment index rose by 0.14 percent last month

The Small Business Employment Index, commissioned by Intuit, revealed that small business employment rose by 0.14 percent in September, translating to a 1.6 percent annual growth rate. Despite the seemingly positive news for small businesses, the rate of employment fell from August, which showed a 0.19 percent increase in a month-long period.

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"September's employment numbers are good news - the fact that employment is still up, albeit modestly, and not down, is comforting," said Susan Woodward, an economist who helped Intuit with the Index. "This optimism is also based on the fact that August's revised employment numbers were better than the original numbers."

The 0.14 increase in employment means that 27,000 new jobs were created in the month of September, down from the 39,000 added in August, according to the latest news for small business.

According to the U.S. Bureau of Labor Statistics, the unemployment rate remains high in the United States. Despite the increase in jobs, the unemployment rate stands at 9.5 percent nationally. 

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