It seems that things are looking up now as Intuit Small Business Employment Index, a monthly report performing almost real-time trends of employment of the nation’s businesses with less than 20 employees, shows that more money was earned in April due to the job growth and more hours worked.
Small Businesses Create More Jobs
Intuit Payroll’s Small Business Employment Index indicates job creation, hours worked and wages based on about 65,000 small businesses using Intuit Online Payroll.
Following the results performed by Intuit Inc. Small Business Employment Index, the small business employment increased up to 0.3% during April that equates to an annual rise of almost 3.6% meaning nearly 60,000 jobs were created for the month.
Wages And Hours Worked Grew
In addition to the increased number of jobs created by the small businesses, the hours and pay for the employees were also raised. According to the estimates, the 0.7% increase was noted comparing with average hours worked in March. As for the wages paid by the small businesses, they have also increased comprising a 0.5% rise comparing with the previous month. In fact, a lot of small business employees are part time, thus, these wages are very important as they may be used to provide crucial payments or supplement other wages. This way, some people can avoid applying for additional funds in a form of cash advance, for instance.
According to the data performed by the Intuit Index that also breaks down employment geographically, the job growth in April was noted in every state with over 1,000 Intuit Online Payroll consumers.