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Small businesses increased hiring in December by 0.3 percent - a positive indicator for the new year, the state of small business and the economy.
Intuit's Small Business Employment Index revealed that small business employment increased by 57,000 new hires last month. The company also edited its November report to find 73,000 new hires by small businesses, translating to a 0.4 percent increase.
"Small business is still the most vigorous sector of the employment picture," said Susan Woodward, an economist who worked with Intuit to create the report.
"We generally see a rise in employment for all businesses in December, but this year it is unusually strong. We can hardly see the recovery in overall national employment, but among small businesses, the recovery, albeit slow, is unambiguous," she added.
Although the increase in employment is a positive indication for small businesses, Intuit's report also showed that few small businesses are increasing employees' wages. However, the amount of hours worked by staff was strong last month. The average employee worked 107.5 hours in December, a sign that small businesses may continue to hire throughout 2011.
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Intuit's Small Business Employment Index revealed that small business employment increased by 57,000 new hires last month. The company also edited its November report to find 73,000 new hires by small businesses, translating to a 0.4 percent increase.
"Small business is still the most vigorous sector of the employment picture," said Susan Woodward, an economist who worked with Intuit to create the report.
"We generally see a rise in employment for all businesses in December, but this year it is unusually strong. We can hardly see the recovery in overall national employment, but among small businesses, the recovery, albeit slow, is unambiguous," she added.
Although the increase in employment is a positive indication for small businesses, Intuit's report also showed that few small businesses are increasing employees' wages. However, the amount of hours worked by staff was strong last month. The average employee worked 107.5 hours in December, a sign that small businesses may continue to hire throughout 2011.
This article is brought to you by Vcorp Services – Vcorp offers executives, attorneys, accountants, and entrepreneurs an extensive suite of services including entity formations, state filings, document retrieval, tax-exempt filings, UCC filings and searches, 501c3 filings and more. www.vcorpservices.com
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