In contrast to the official government figures from the U.S. Bureau of Labor Statistics, small business employment remained relatively stagnant in October, according to Intuit, increasing only 0.01 percent.
The figures, based on users of Intuit Online Payroll and QuickBooks Online Payroll, indicated nevertheless that the overall small business hiring rate increased to 5.3 percent, the highest level since the recovery from the recession began.
Also on the positive side of the ledger, small business employees were paid more in October on average. They saw a slight increase in monthly compensation, Intuit found, with average monthly pay reaching the equivalent of $2,904, up $17 from September.
Employees also worked considerably more in October. The average number of monthly hours worked by hourly employees was 113.1 hours, an increase of 45 minutes in October. The number of hours worked at small businesses in October was at the highest level Intuit has seen since it began reporting such data back in 2004.
The figures, based on users of Intuit Online Payroll and QuickBooks Online Payroll, indicated nevertheless that the overall small business hiring rate increased to 5.3 percent, the highest level since the recovery from the recession began.
Also on the positive side of the ledger, small business employees were paid more in October on average. They saw a slight increase in monthly compensation, Intuit found, with average monthly pay reaching the equivalent of $2,904, up $17 from September.
Employees also worked considerably more in October. The average number of monthly hours worked by hourly employees was 113.1 hours, an increase of 45 minutes in October. The number of hours worked at small businesses in October was at the highest level Intuit has seen since it began reporting such data back in 2004.
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