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GLENVIEW, IL — September 28, 2012 — SurePayroll, Inc., a leader in providing online payroll to small businesses nationwide, today announced September results for its monthly SurePayroll Small Business Scorecard® showing small business owners' optimism at 45 percent, a sharp drop from 60 percent in August. Month over month hiring in September was down 0.2 percent and the average paycheck was flat. Results from the Scorecard optimism survey found that nearly four out of five small business owners' optimism is being impacted by the upcoming election.
"It's deeply concerning that optimism plunged 15 points at a time when we're struggling to maintain the recovery," said SurePayroll CEO and President Michael Alter. "This suggests a lack of growth through the election, but what's more troubling is what it could mean beyond that. When small business owners are not optimistic, they're not investing and they're not hiring."
The Scorecard survey also asked small business owners about their views on the upcoming presidential election. (The results are no in way representative of SurePayroll's views and opinions. The margin of error for the survey is +/- 5 percentage points, based on results from 411 respondents). Some of the results include:
Month-over-month SurePayroll Scorecard data shows hiring down 0.2 percent and the average paycheck as flat. Hiring was down month-over-month in every region of the country except for the South, where it was flat. Paychecks were up month-over-month in the Midwest (0.5 percent) and South (0.1 percent) and down across the rest of the country.
Year-over-year, nationwide hiring is down only 1.5 percent and paychecks are down 1.2 percent. The South continues to show promising signs with hiring up 1.2 percent. The West has had the steepest hiring decline at 5.0 percent, with paychecks down 0.5. Hiring in the Midwest is down 2.2 percent and paychecks are up for the first time since January 2011 at 0.3 percent. In the Northeast, hiring is down 1.6 percent and paychecks are down 3.9 percent.
As the first economic indicator created by a payroll company, the SurePayroll Scorecard has provided a monthly look on national hiring and paycheck trends since September 2004. SurePayroll's Scorecard compiles data from over 35,000 small businesses, and exclusively reflects the trends affecting the nation's "micro businesses" — those with an average of eight employees.
The full SurePayroll Small Business Scorecard infographic, which includes data for the top 35 MSAs, is available at www.SurePayroll.com/scorecard.
SurePayroll is a wholly owned subsidiary of Paychex, providing an easy, online, convenient payroll service that keeps our more than 35,000 small business customers in control. SurePayroll also offers efficient online solutions for managing 401(k) plans, health insurance, workers' compensation, employee screening and more. For accountants and banking partners, SurePayroll provides private-label and co-branded services that enable them to offer online payroll processing to their small business clients. The company has received numerous prestigious awards for its innovative technology, and outstanding customer service and sales teams, including recognition from PC Magazine, Accounting Today, the American Business Awards and many others. For more information, please visit www.SurePayroll.com.
Paychex, Inc. (NASDAQ:PAYX) is a leading provider of payroll, human resource, and benefits outsourcing solutions for small- to medium-sized businesses. The company offers comprehensive payroll services, including payroll processing, payroll tax administration, and employee pay services, including direct deposit, check signing, and Readychex®. Human resource services include 401(k) plan recordkeeping, section 125 plans, a professional employer organization, time and attendance solutions, and other administrative services for business. A variety of business insurance products, including group health and workers' compensation, are made available through Paychex Insurance Agency, Inc. Paychex was founded in 1971. With headquarters in Rochester, New York, the company has more than 100 offices serving approximately 567,000 payroll clients as of May 31, 2012. For more information about Paychex and our products, visit www.paychex.com.