Although revenue figures are down, U.S. small businesses are experiencing higher employment numbers, average compensation and hours worked, according to the Small Business Employment and Revenue Indexes by Intuit Inc.
In fact, small-business employment rose 0.3 percent in June, reaching an annualized rate of 4.1 percent, which is the strongest growth rate that respondents have faced in the last three months. This represents approximately 70,000 new jobs created; however, Intuit is recalibrating the index and expects these numbers to change.
Average monthly compensation increased by 0.5 percent, totaling to $14, while average monthly hours worked increased by 0.3 percent at 18 minutes.
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