Small Businesses and their employees in September
The following text comes from the infographic.
Independent business indicators are looking up. There’s good news on the small business front. After several months of less than hopeful jobs reports and economic forecasts, small businesses were looking up in September. Employment, compensation, and hours worked have all grown since August. Here’s a closer look.
Employment in small businesses is up. More than 50,000 jobs were added since August, with growth in nearly all regions across the country. Monthly change in small business employment +0.3%. Only two states with small business employment down slightly were Oregon and New York. New jobs since the “recovery” is 720,000.
In good news for employees, compensation is also up. Average compensation for hourly small business employees has grown since August. Compare to average compensation in August it’s up 0.3% and average monthly compensation is $2,694 to make annual wages average $32,300.
Employee work hours were up in September. This is a good sign for many hourly small business employees, whose hours were reduced to avoid layoffs in the recession. The only state with slightly fewer hours worked was Virginia with a tiny 0.005% less hours worked. Average hours worked per week is 25.5 and monthly 110.4 hours.