Small business hiring was up 0.3 percent in February. Salaries were down 0.8 percent.
The SurePayroll Hiring Index, which measures small business employment trends, ended the month at 11,341, a 35-point increase from January.
Nationally, this was our 27th straight month of increased hiring in the small business economy. However, the increases have been fairly flat the past six months.
Small business salary trends dropped for the 13th consecutive month. Measured by the SurePayroll Pay Index, the eight-point decline dropped to 1,019.
February was the largest one-month decline in salaries that we've seen since December 2004. The monthly SurePayroll Scorecard data for February 2009 can be found in the table below.
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About the Scorecard
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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