Intuit, Inc. today announced the results of the 2012 Small Business Employment Report for December and for 2012 overall. According to the report, there was a small overall increase in the small business employment sector. Wages and hours worked also increased.
December 2012 Results
The Small Business Employment Index is based on data from 170,000 small business employers who use Intuit Online Payroll or QuickBooks Online Payroll. For December, the report showed that businesses added 15,000 new jobs in December for an increase of 0.09%. Average monthly compensation and hours worked both increased by 0.5% ($13) and 0.08% (5 minutes), respectively.
2012 Overall Results
The Intuit Small Business Index for 2012 Overall showed that between January and December, employment increased 0.12% after a peak in April and a low point in September. Utah, Texas and Indiana led the way for growth in 2012, and while the year started out slow (70% of states reporting low employment levels), 44% of US states found that levels in November and December were the highest of the year.
“Small business employment is still growing, albeit very slowly. 2012 was a year of ups and downs, resulting in a final tally of 19.9 million small business jobs,” explained economist Susan Woodward, who worked with Intuit to create the indexes. “However, the level of small business employment has yet to reach its pre-recession level of 21.2 million jobs in March 2007.”
To view the full Small Business Index Report for 2012, please visit the site here.