Average monthly pay for small business employees dropped to $2,676 in January, down 0.2 percent from the December revised figure of $2,682 per month. The equivalent annual wages would be about $32,100 per year, which is part-time work for almost half of small business employees.Small Business Employment by Geography A breakdown of employment growth by state showed mixed results for January. Among the 33 states tracked by Intuit’s Small Business Employment Index, 11 showed employment increases, two remained flat, and 20 showed decreases. Utah and Nevada saw the largest increases, while Michigan and Indiana saw the greatest declines.
|State||Change in Employment (%)|
“The revenue decline that began in early 2012 coincides with a rise in self employment,” said Woodward. “This increase of new entrants into existing industries may explain the decline in revenue per business. There are now more businesses competing for business in the same markets.”
|Sector||December Change in Revenue (%)|
|Real estate and rental and leasing||-0.8|
|Health care and social assistance||-0.6|
|Professional, scientific, and technical services||-0.6|
|Accommodation, food services, and drinking places||-0.6|