Intuit’s new small business employment index shows that American small businesses have actually been creating jobs lately. Given that small businesses hire when they see increased opportunities and economic prospects, this hiring growth is a sign of economic advance for the U.S. economy.
Although overall employment has declined since December 2007, the most recent monthly change in the Intuit Small Business Employment Index is positive. While this month-over-month change is small, up 0.2 per cent on a seasonally adjusted basis, it continues an upward trend that began around the middle of 2009. Employment grew nearly 0.8 per cent over the past eight months, which is 1.1 per cent at an annual rate. This translates into nearly 40,000 new jobs for February 2010 and nearly 150,000 new jobs since June 2009.
This is tiny so far, but at the very least points to stabilisation in the U.S. small business space.
(Tip via MWellman)
Business Insider Emails & Alerts
Site highlights each day to your inbox.