Arizona Posting Small Business Employment Growth!
April 3, 2012 Leave a comment
Phoenix Business Journal by Lynn Ducey, Reporter
Date: Monday, April 2, 2012, 10:34am MST
- Lynn Ducey Reporter - Phoenix Business Journal
Small business employment in Arizona increased by 1.2 percent in March, the largest amount in the nation, according to the Intuit Small Business Employment Index.
The monthly national report includes information from 77,800 small business Intuit Online Payroll customers taken between Feb. 24 and March 23.
Nationally, small businesses employment increased by 0.3 percent in March — the highest single-month growth rate in more than two years. Growth was 0.6 percent in the Mountain region, which includes Arizona. Arizona, California and Florida had the highest employment increases.
“This is the strongest small business employment report we have had in a long time,” said Susan Woodward, an economist who worked on the study. “Yet at the same time, the hiring rate has remained flat at just above five percent since May 2009. This indicates that small firm employees are staying with their current employers, rather than leaving for bigger firms.”
Hourly small business employees worked an average of 111.9 hours in March, an increase of 0.5 percent from the revised figure of 111.3 hours in February. That averages out to a 25.8-hour workweek.
Average monthly pay for all small business employees increased to $2,785 in March, up 0.7 percent from the $2,767 per month seen in February. The equivalent annual wages would be about $33,400 per year based on the new March data, the study showed.
Lynn Ducey covers tourism, hospitality, restaurants and nonprofits.