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GLENVIEW, IL — November 30, 2012 — SurePayroll, Inc., a leader in providing online payroll to small businesses nationwide, today announced November results for its monthly SurePayroll Small Business Scorecard® showing month over month hiring was down 0.1 percent and the average paycheck was flat. Small business owners' optimism sits at 60 percent, down eight points from last month.
The Scorecard survey asked small business owners across the country if, with the election settled, they felt more certainty about the government's ability to avoid the fiscal cliff, and 61 percent said, "No."
"The sense I think many small business owners have right now is that the government is either stalled or making only short term decisions, rather than providing direction and leadership for the future," said SurePayroll CEO and President Michael Alter. "As business owners, they understand that sometimes you have to think short term, but not at the cost of a long-term solution. Until they see a more forward-thinking plan, they may continue to exercise caution."
Month-over-month SurePayroll Scorecard data showed hiring down 0.1 percent and the average paycheck was flat. Hiring was down month-over-month in every region of the country except for the South, where it was up 0.1 percent. Paychecks were up month-over-month in the Midwest (0.3 percent) and South (0.1 percent), and down across the rest of the country.
Year-over-year, nationwide hiring is down only 1.4 percent and paychecks are down 1.3 percent. The South continues to show promising signs with hiring up 1.4 percent and paychecks down 0.7 percent. The West has had the steepest hiring decline at -4.9 percent, with paychecks down 0.8 percent. Hiring in the Midwest is down 2.1 percent and paychecks are up 1.3 percent. In the Northeast, hiring is down 1.7 percent and paychecks are down 4.8 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 more than 40,000 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, will be available later today 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 40,000 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.