Intuit: U.S. Small Business Employment Growth Slows in August
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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