Intuit’s latest small business report, which is based off of actual payrolls data the company collects, has shown that the small business employment rebound continued in April. Small businesses added 66,000 jobs in the month, which equates to +0.33% or a 4% annualized growth rate.
“Small businesses are looking healthier,” said Dr. Susan Woodward, the nationally-recognised economist who worked with Intuit to create the index. Every trend we measure employment, hours worked, and monthly compensation is showing signs of a recovery. Last month the national figures finally began to show a recovery for larger businesses and the entire economy, but for small businesses, the recovery has been underway for more than half a year.”
We’ve seen some talk about how small business is in rough shape, many probably are as they are the quickest to die and quickest to start. But actual payroll data from Intuit shows that an extended recovery has already happened. Still, employment remains well below its recent peak:
See the full Inuit report below.
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