By Saabira Chaudhuri
The rate of U.S. small business employment growth slowed while revenue continued to decline in August for the fifth
consecutive month, according to a new survey from Intuit.
Intuit’s Small Business Employment Index showed employment increased by 0.16% in August, creating about 30,000 new
jobs during the month, down from 0.2% in July.
Average monthly compensation was almost flat, growing by 0.08%, or $2, down from the growth of $7 seen last month.
Average monthly hours worked decreased by 0.6%, or 42 minutes.
According to the survey, small business revenue fell by 0.6% from the previous month. The retail industry, along with
the accommodation and food services sector, saw the biggest declines at 1.1%, followed by real estate services at 0.7%.
“This month’s indexes indicate that small businesses
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