Small businesses employee headcount increased in December in the Northeast and the West in December, but businesses grew smaller in the MidWest and South. Looking at average paycheck size, only the Midwest and the West were up in December relative to November. In December, paychecks in the Northeast and the South were trending downward.
For the entire year, all regions experienced growth in business size except for the Northeast, which declined 3.1% in 2004. The West led the nation in small business growth, increasing by 6.3% in 2004. Gains were milder in the South and Midwest, which clocked in with 1.9% and 0.9% gains respectively.
In 2004, paychecks grew in the Northeast and the South but shrank in the Midwest and West.
The South was the only region that was up both in terms of employee counts and paycheck sizes.
Below is the monthly SurePayroll Scorecard data for each Region for 2004.
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The SurePayroll Hiring Index and the SurePayroll Pay Index are generated as part of SurePayroll’s Small Business Scorecard, an economic indicator that tracks the health of the U.S. small business economy. The Small Business Scorecard is generated from actual payroll data — paychecks issued to contractors and employees — for tens of thousands of small businesses nationwide.
Questions regarding the SurePayroll Small Business Scorecard can be directed to Michael Alter. Michael can be reached at malter@surepayroll.com or by phone at 847.676.8420 ext. 7229.
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