ACROSS MISSISSIPPI — Intuit’s August Small Business Indexes, a monthly report providing unique and almost real-time insight into employment and revenue trends of the nation’s small businesses with fewer than 20 employees, showed that small business employment increased 0.01 percent in August.
The data is based on approximately 242,000 small businesses customers of Intuit Online Payroll and QuickBooks Online Payroll, covering the period from July 24-Aug. 23.
Mississippi tied for second with Florida and South Carolina at 0.13 percent. Utah led the nation at 0.50 percent.
The July Intuit Small Business Revenue Index showed significant growth in revenue, by half of one percent; which shows small businesses are recovering from recessionary depths, according to the Revenue Index data. The Revenue Index is based on anonymized aggregated data from over 150,000 QuickBooks Online small businesses, and is the first in the market to provide current information on monthly per business small business revenue.
The August Indexes also shows:
• Hourly small business employees saw a decrease in monthly compensation by 0.59 percent with average monthly pay reaching the equivalent of $2,791, up $16 from July.
• Average monthly hours worked by hourly employees increased by 0.6 percent in August; this is equivalent to 109.8 hours, up approximately 36 minutes from July’s revised figure.
• Small business revenues overall saw an increase of 0.5 percent in July on a per-business basis. “Real estate” showed the largest increase of 1.3 percent, while the “Accommodation and food services” industry saw the smallest increase of 0.08 percent.
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