Since May there's been a continual decline in small-business employment, according to Intuit Inc.'s Small Business Revenue and Employment Indexes.
In fact, the October Employment Index shows that small business employment dropped by 0.05 percent for an annualized decrease of 0.6 percent. This totals to roughly 10,000 fewer jobs than in September. After considering October's numbers and the most recent national employment data from the Bureau of Labor Statistics, Intuit revised downward the previously reported September employment rate to 0.06 percent.
Between March 2010 and May 2012, small-business employment added 150,000 jobs for a total of 19.9 million; however, 65,000 jobs from small businesses have been cut since May for a total recovery of 85,000 small-business jobs, the study finds.
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