Close
  • Latest News
  • Big Data and Analytics
  • Cloud
  • Networking
  • Cybersecurity
  • Applications
  • IT Management
  • Storage
  • Sponsored
  • Mobile
  • Small Business
  • Development
  • Database
  • Servers
  • Android
  • Apple
  • Innovation
  • Blogs
  • PC Hardware
  • Reviews
  • Search Engines
  • Virtualization
Read Down
Sign in
Close
Welcome!Log into your account
Forgot your password?
Read Down
Password recovery
Recover your password
Close
Search
Logo
Logo
  • Latest News
  • Big Data and Analytics
  • Cloud
  • Networking
  • Cybersecurity
  • Applications
  • IT Management
  • Storage
  • Sponsored
  • Mobile
  • Small Business
  • Development
  • Database
  • Servers
  • Android
  • Apple
  • Innovation
  • Blogs
  • PC Hardware
  • Reviews
  • Search Engines
  • Virtualization
More
    Home IT Management
    • IT Management

    Small Business Employment Rises, but Revenue Falls: Intuit

    By
    Nathan Eddy
    -
    January 31, 2013
    Share
    Facebook
    Twitter
    Linkedin

      Small business employment in the United States increased 0.11 percent in January, representative of 20,000 new jobs added and an annualized growth rate of 1.3 percent, while overall revenue dropped 0.4 percent in December, according to the monthly Small Business Employment and Revenue Indexes compiled by small and midsize business (SMB) financial management solutions specialist Intuit.

      The rate of small business employment continued its slow climb after a slight dip from April through September 2012, though the number of small business jobs–more than 19.9 million—is still below the peak in April 2012, and well below its pre-recession level of 21.2 million jobs in March 2007. Average monthly compensation fell by 0.2 percent in January, or $6, compared to the increase of $13 seen in December, while average monthly hours worked decreased by 0.9 percent, or almost one hour.

      “Given the continuing high levels of unemployment, we can expect little-to-no impact on small business wages and employment levels from the return of the employee payroll tax to its previous level of 6.2 percent,” Susan Woodward, the economist who worked with Intuit to create the indexes, said in a statement. “Instead, we will be much more likely to see a decline in the consumption expenditures of employees, who will be taking home less money.”

      The report found small business hourly employees worked an average of 105.1 hours in January, down slightly from the revised figure of 106.1 hours in December, making for a 24.3-hour workweek, while the average monthly pay for small business employees dropped to $2,676 in January.

      For the entire year, the construction industry was the only one with increased revenue, reporting a 3.1 percent rise, compared to a decline of 1.8 percent for small businesses overall. The retail and health-care sectors reported the biggest decreases over the past year with a 5 percent and 3.8 percent decline, respectively.

      “The revenue decline that began in early 2012 coincides with a rise in self employment,” Woodward said. “This increase of new entrants into existing industries may explain the decline in revenue per business. There are now more businesses competing for business in the same markets.”

      Among the 33 states tracked by Intuit’s Small Business Employment Index, 11 showed employment increases, two remained flat and 20 showed decreases. Utah and Nevada saw the largest increases, while Michigan and Indiana saw the greatest declines.

      The index is based on data from Intuit Online Payroll and QuickBooks Online Payroll, covering the period from Dec. 24 through Jan. 23. The Employment Index is based on aggregated data from 170,000 small business employers, a subset of users that use Intuit Online Payroll and QuickBooks Online Payroll. The Revenue Index is based on aggregated data from approximately 100,000 small businesses, a subset of users that use Intuit’s QuickBooks Online financial management offering.

      Nathan Eddy
      A graduate of Northwestern University's Medill School of Journalism, Nathan was perviously the editor of gaming industry newsletter FierceGameBiz and has written for various consumer and tech publications including Popular Mechanics, Popular Science, CRN, and The Times of London. Currently based in Berlin, he released his first documentary film, The Absent Column, in 2013.

      MOST POPULAR ARTICLES

      Cybersecurity

      Visa’s Michael Jabbara on Cybersecurity and Digital...

      James Maguire - May 17, 2022 0
      I spoke with Michael Jabbara, VP and Global Head of Fraud Services at Visa, about the cybersecurity technology used to ensure the safe transfer...
      Read more
      Big Data and Analytics

      Alteryx’s Suresh Vittal on the Democratization of...

      James Maguire - May 31, 2022 0
      I spoke with Suresh Vittal, Chief Product Officer at Alteryx, about the industry mega-shift toward making data analytics tools accessible to a company’s complete...
      Read more
      Big Data and Analytics

      GoodData CEO Roman Stanek on Business Intelligence...

      James Maguire - May 4, 2022 0
      I spoke with Roman Stanek, CEO of GoodData, about business intelligence, data as a service, and the frustration that many executives have with data...
      Read more
      Applications

      Cisco’s Thimaya Subaiya on Customer Experience in...

      James Maguire - May 10, 2022 0
      I spoke with Thimaya Subaiya, SVP and GM of Global Customer Experience at Cisco, about the factors that create good customer experience – and...
      Read more
      Cloud

      Yotascale CEO Asim Razzaq on Controlling Multicloud...

      James Maguire - May 5, 2022 0
      Asim Razzaq, CEO of Yotascale, provides guidance on understanding—and containing—the complex cost structure of multicloud computing. Among the topics we covered:  As you survey the...
      Read more
      Logo

      eWeek has the latest technology news and analysis, buying guides, and product reviews for IT professionals and technology buyers. The site’s focus is on innovative solutions and covering in-depth technical content. eWeek stays on the cutting edge of technology news and IT trends through interviews and expert analysis. Gain insight from top innovators and thought leaders in the fields of IT, business, enterprise software, startups, and more.

      Facebook
      Linkedin
      RSS
      Twitter
      Youtube

      Advertisers

      Advertise with TechnologyAdvice on eWeek and our other IT-focused platforms.

      Advertise with Us

      Menu

      • About eWeek
      • Subscribe to our Newsletter
      • Latest News

      Our Brands

      • Privacy Policy
      • Terms
      • About
      • Contact
      • Advertise
      • Sitemap
      • California – Do Not Sell My Information

      Property of TechnologyAdvice.
      © 2021 TechnologyAdvice. All Rights Reserved

      Advertiser Disclosure: Some of the products that appear on this site are from companies from which TechnologyAdvice receives compensation. This compensation may impact how and where products appear on this site including, for example, the order in which they appear. TechnologyAdvice does not include all companies or all types of products available in the marketplace.

      ×