This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here
Stocks Under $10 with 50-100% upside potential - 14 days FREE!

Small Business Employment Increases, But Revenue Falls For Tenth Consecutive Month

U.S. small business employment increased 0.11 percent in January, while overall revenue dropped 0.4 percent in December, according to the monthly Intuit Inc. (Nasdaq: INTU) Small Business Employment and Revenue Indexes. Construction was the only sector to see an increase in revenue.

The January employment increase represents 20,000 new jobs added and an annualized growth rate of 1.3 percent.

On a seasonally adjusted basis, average monthly compensation fell by 0.2 percent in January, or $6, compared to the increase of $13 seen in December. Average monthly hours worked decreased by 0.9 percent, or almost one hour, compared to the increase of five minutes seen last month. The index is based on data from Intuit Online Payroll and QuickBooks Online Payroll, covering the period from Dec. 24 through Jan. 23.

“The rate of small business employment continues its slow climb after a slight dip from April through September 2012,” said Susan Woodward, the economist who worked with Intuit to create the indexes. “However, the number of small business jobs now stands at a little over 19.9 million – still below the peak in April 2012, and well below its pre-recession level of 21.2 million jobs in March 2007. Given the continuing high levels of unemployment, we can expect little to no impact on small business wages and employment levels from the return of the employee payroll tax to its previous level of 6.2 percent. Instead, we will be much more likely to see a decline in the consumption spending of employees, who will be taking home less money.”

Decrease in Hours Worked, Compensation

Small business hourly employees worked an average of 105.1 hours in January, down slightly from the revised figure of 106.1 hours in December, making for a 24.3-hour workweek.

1 of 3

Select the service that is right for you!

COMPARE ALL SERVICES
Action Alerts PLUS
Try it NOW

Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
  • Weekly roundups
TheStreet Quant Ratings
Try it NOW
Only $49.95/yr

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
  • Upgrade/downgrade alerts
Stocks Under $10
Try it NOW

David Peltier, uncovers low dollar stocks with extraordinary upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
  • Weekly roundups
Dividend Stock Advisor
Try it NOW

Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Alerts when market news affect the portfolio
  • Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
Real Money Pro
Try it NOW

All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.

Product Features:
  • Real Money + Doug Kass Plus 15 more Wall Street Pros
  • Intraday commentary & news
  • Ultra-actionable trading ideas
Options Profits
Try it NOW

Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • 100+ monthly options trading ideas
  • Actionable options commentary & news
  • Real-time trading community
  • Options TV
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!
DOW 17,098.45 +18.88 0.11%
S&P 500 2,003.37 +6.63 0.33%
NASDAQ 4,580.2710 +22.5760 0.50%

Brokerage Partners

Rates from Bankrate.com

  • Mortgage
  • Credit Cards
  • Auto

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs