Intuit Quickbooks’ November 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 0.15 percent in November. Oregon ranked 4th in the nation, tied with Nevada and below Virginia and Utah.
The data is based on approximately 251,000 small businesses customers of Intuit Online Payroll and QuickBooks Online Payroll, covering the period from October 24 through November 23.
The October Intuit Small Business Revenue Index showed significant growth in revenue, by nearly half a percent; which shows small businesses continue 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 November Indexes also shows:
• Hourly small business employees saw an increase in monthly compensation by 0.3 percent with average monthly pay reaching the equivalent of $2,775, up $9 from October.
• Average monthly hours worked by hourly employees increased by 0.3 percent in November; this is equivalent to 109.5 hours, up approximately 18 minutes from October’s revised figure.
• Small business revenues overall saw a decrease of 0.04 percent in October on a per-business basis. ‘Construction’ showed the largest increase of 0.6 percent, while the ‘Professional and technical services’ industry saw the largest decrease of 0.19 percent.
