INDEX SAYS: U.S. SMALL BUSINESSES ADDED 15,000 JOBS IN FEBRUARY, A 0.07% INCREASE
WHAT: Intuit Payroll’s February Small Business Indexes, a monthly report providing unique and almost real-time insight into employment and now revenue trends of the nation’s small businesses with fewer than 20 employees, shows that small businesses created 15,000 jobs in February. The data is based on approximately 175,000 small businesses customers of Intuit Online Payroll and QuickBooks Online Payroll.
Small business revenues are gradually recovering from recessionary depths, but are just now reaching levels seen before the recession began in 2007, according to the first-of-its kind Intuit Small Business Revenue Index. The recently-launched Revenue Index is based on anonymized aggregated data from QuickBooks Online, is the first in the market to provide current information on monthly small business revenue.
The February Indexes also show:
• The revenue index indicates that small businesses overall saw revenue decline in January of 0.6 percent. Among the industries tracked by the Index, none saw an increase in January.
• The ‘Retail’ industry saw the biggest decline in January at 1.3 percent, followed by ‘Professional, Scientific, and Technical services’ with a 0.9 percent decline.
• Average monthly pay for small business employees increased to $2,745 in February, or 0.4 percent; and monthly hours worked increased 0.17 percent in February, corresponding to 109.4 hours.
WHERE: Intuit spokespeople, economist Susan Woodward and customers are available for in-person and phone meetings.
WHEN: Available starting March 4, 2013
CONTACT: Steve Imm at teamintuitemployeesolutions@accesspr.com or (415) 844-6286.
