Map courtesty of Intuit Inc.
Small businesses across the country created 20,000 jobs this month, up 0.11 percent from a year earlier, according to data released today from the latest Intuit Payroll?s Small Business Index.
Texas small business employment grew 0.02 percent in January, the index showed.
Intuit tracks monthly employment, revenue and wage trends for small businesses ? those with fewer than 20 employees ? in 33 states. This month, eleven states showed job gains, two were flat and 20 showed declines. Utah and Nevada saw the largest increases.
U.S. small business employment continues to climb slowly after a slight dip from April through September, said Susan Woodward, the economist who helped create the Intuit indexes. However, the?19.9 million small business jobs is still below the pre-recession level of 21.2 million jobs in March 2007, she said.
Nationally, the average monthly pay for small-business workers fell a seasonally adjusted $6 in January after rising $13 in December. Monthly hours worked dipped slightly to 105.1 hours.
The nation can expect to see a decline in consumer spending as employees will take home less money given the return of the employee payroll tax to its previous level of 6.2 percent, Woodward said
Overall small business revenue dropped 0.4 percent in December ? down for 10th straight month according to the Intuit?s Small Business Revenue Index, which lags the employment index by one month. Construction was the only industry to see a revenue increase last month ? up 0.3 percent. Small business revenue is just now reaching pre-recession levels.
The employment index is based on data from 170,000 small business employers that use Intuit?s Online Payroll and QuickBooks Online Payroll. The revenue index is based on data from about 100,000 small businesses that use QuickBooks Online financial management product.
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