U.S. small business employment growth continued and added 15,000 more jobs. Oregon is ranked 7th in the nation in increase in employment.
Intuit’s July Small Business Indexes, a monthly report providing unique and almost real-time insight into employment and revenue trends of the nation’s small businesses with fewer than 20 employees, showed that small business employment increased 0.7 percent in July. The data is based on approximately 237,000 small businesses customers of Intuit Online Payroll and QuickBooks Online Payroll, covering the period from June 24 through July 23.
The June Intuit Small Business Revenue Index showed overall growth in revenue, by one-tenths of one percent; which shows small businesses are continuing to recover from recessionary depths, according to the Revenue Index data. The Revenue Index is based on anonymized aggregated data from over 150,000 QuickBooks Online small businesses, and is the first in the market to provide current information on monthly per business small business revenue.
The July Indexes also shows:
• Hourly small business employees saw a decrease in monthly compensation by 0.2 percent with average monthly pay reaching the equivalent of $2,708, down $6 from June.
• Average monthly hours worked by hourly employees decreased by 0.3 percent in July; this is equivalent to 107.5 hours, down approximately 18 minutes from June’s revised figure.
• Small business revenues overall saw a decrease of 0.01 percent in June on a per-business basis.‘Accommodation, food services and drinking places’ showed the largest increase of 0.2 percent, while the ‘Health care and social assistance’ industry saw the largest decrease of 0.18 percent.
Bitsy Rich at email@example.com or 917-522-3516.