U.S. small business employment showed steady growth.Intuit’s April 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 0.12 percent in April. The data is based on approximately 225,000 small businesses customers of Intuit Online Payroll and QuickBooks Online Payroll, covering the period from March 24 through April 23.
Small business revenues are continuing to recover slowly from recessionary depths, according to the Intuit Small Business Revenue Index. 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 April Indexes also show:
• The Employment Index shows that hourly small business employees saw an increase in monthly compensation by 0.06 percent with average monthly pay reaching the equivalent of $2,741, up $2 from March.
• Average monthly hours worked by hourly employees decreased by 0.05 percent in April, which is equivalent to 108.6 hours, down approximately 3 minutes from March.
• Small business revenues overall saw a decrease of 0.7 percent in March on a per-business basis. ‘Professional and technical services’ showed the largest, and only, increase of 0.07 percent, while the ‘Real Estate’ industry saw the largest decline of 1.2 percent.
