Small business hiring and salaries both rose in the month of January, though the month’s increase in salaries was slight.
The Hiring Index is a proxy for the size of the average small business workforce, including employees and contractors. Its rise of 91 points this month implies that small businesses continue to hire despite the tough economy. Though just up one point from the previous month, the average small business salary finally increased after 23 months of a downward trend.
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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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