A survey from Intuit reports today that small businesses have created 35,000 jobs so far this month.
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That’s the good news. Unfortunately, Intuit’s survey also revealed that employees are working fewer hours and getting paid less. Compensation at these firms has dropped 0.08 percent, and hours worked has slipped 0.3 percent. the survey said.
In July, these companies created 40,000 jobs, compensation increased 0.2 percent, and hours worked increased 0.12 percent.
The Intuit Small Business Employment Index is based on aggregate and anonymous online employment data from approximately 60,000 small business employers who use Intuit Online Payroll, each with fewer than 20 employees. These smallest employers are important to the economy as they comprise 87 percent of the total U.S. private employer base and employ nearly 20 million people.
For more coverage on small businesses, click here.
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