Intuit’s Small Business Employment Index for April showed a growth trend in hiring, with approximately 66,000 new jobs that month, and nearly five times that many throughout the last 10 months. Midway through 2009 marked a turning point for employment trends, as things finally started picking up. The data is reflective of approximately 55,000 small-business owners (those with less than 20 workers), thereby providing a snapshot of the economy and hiring conditions.
The data also reveals that pay rates and number of hours worked are also increasing. Compensation had not seen much movement since late in 2008. However, April 2010 not only showed advances in employee pay, but also in remuneration to the actual business owner for time worked. As for the number of hours worked per week among hourly staff members, the average was 24.4. The figures are reportedly adjusted to account for any seasonal discrepancies (such as making more money solely because more hours were worked).
An economist interprets the report as a positive sign regarding the well-being of small business. She also notes that the overall economy and larger companies are also showing signs of improvement.
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Source:
MarketWatch: Small Businesses Add 66,000 New Jobs in April
