Intuit Payroll’s September 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 business employment slightly increased by 0.01 percent in September. The data is based on approximately 203,000 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 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 September Indexes also shows:
- The employment index indicates that small businesses overall saw a decrease in monthly compensation by 0.2 percent with average monthly pay reaching the equivalent of $2,657, down $7 from August.
- Average monthly hours worked by hourly employees decreased 0.2 percent in September, which is equivalent to 106.0 hours, down about twelve minutes from August.
- Small business revenues overall saw a decline of 0.04 percent in August on a per-business basis.
- Real estate services saw a continued recovery this month with a 0.4 percent increase; in addition the real estate industry also saw a 0.4 percent increase.