Small business hiring was up 0.2 percent in May. Salaries were down 0.9 percent.
The SurePayroll Hiring Index, which tracks small business employment trends, ended the month at 11,430, a 26-point increase from April.
This was the 30th consecutive month of increased hiring in the small business economy. We say that a month has increased hiring when the Hiring Index increases relative to the prior month. This is effectively saying that the size of the average small business workforce, including employees and contractors, has increased relative to the prior month.
The nation's small business salaries, on the other hand, have been steadily declining. The average small business salary decreased for the 16th consecutive month, as evidenced by the SurePayroll Pay Index dropping nine points in May to 992.
The monthly SurePayroll Scorecard data for May 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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