March’s Intuit Small Business Employment Index showed small businesses added 50,000 new jobs and, for the first time in months, job growth in every part of the U.S. The Index is based on figures from the nation’s smallest businesses that use Intuit Online Payroll.
“Employment is up again for small business this month,” says Susan Woodward, the economist who worked with Intuit to create the Index. “The gain, at an annual rate, is not quite as large as last month but it’s still encouraging. Plus there is one more sign of strength – employment was up for the first time in many months in all nine U.S. divisions. On the state level, employment was up for many of the ‘sand states’ – Oregon, California, Arizona, and Florida – those states hit hardest by falling real estate prices.”
Evaluating other measurements of employment, the Index reported a very similar trend to previous months — an uptick in hours worked amongst small business hourly employees coupled by no significant change in average monthly pay for all small business employees.
Read the full March Index report at intuitinc.com/payrollindex.