WAUKESHA - Small businesses added 15,000 jobs
in March, according to data issued by Intuit Inc., but pay
for employees was down 0.16 percent.
Intuit’s monthly Small Business Employment
and Revenue Indexes showed that 895,000 jobs were added
since March 2010 by small businesses. Hourly employees
worked an average of 107.4 hours in March, down 23 minutes
from February’s revised figure. In addition, small business
employees’ monthly pay fell by 0.16 percent, with average
compensation reaching $2,760, down $4.30 from February,
according to the report.
These findings come from the monthly Intuit
QuickBooks Small Business Employment Index and are based on
data from Intuit Online Payroll and QuickBooks Online
Payroll, covering the period from Feb. 24 to March 23.
Revenues per small business across all
industries fell by 0.14 percent in February, which
translates to a decline of 1.7 percent when annualized. The
Professional Services category showed the largest monthly
increase in revenue, at 0.2 percent, according to the
report. The Real Estate category continued to post the
largest revenue decline, falling 0.5 percent in February and
6.3 percent on an annualized basis.
“We see some softness in small business
employment - fewer hourly people working full time, a
decline in hours worked, and a decline in the hiring rate,
despite a rise in the hourly wage and overall, a rise in
employment,” said Susan Woodward, the economist who works
with Intuit to produce the Small Business Employment and
“While the figures are adjusted for the
seasons, they are not adjusted for unusual weather, so some
of the softness may be the result of an unusually cold and
snowy winter in the East and Midwest.”