Intuit Finds Compensation and Revenue Rose at Small Businesses

Compensation and revenue at small businesses increased this summer, along with the number of hours worked, Intuit reported Tuesday, although employment fell last month.

U.S. small business employment fell by 5,000 jobs in August, a decline of 0.02 percent for the month, according to Intuit. Meanwhile, hourly employees worked an average of 110.1 hours in August, an increase of 20 minutes from July’s revised figure.

“July’s figure was revised up by 2,000 jobs,” said Susan Woodward, the economist who works with Intuit to produce its monthly employment and revenue indexes. “The level of small business employment is 20.7 million jobs, so the August decline doesn’t indicate a clear or major sign of softness in the labor force.”