Small businesses employment rose once again in May, growing 0.1 percent according to Intuit’s latest Small Business Employment Index.
The 0.1 percent increase means that small businesses added approximately 25,000 new jobs this month, and they have now added 240,000 new jobs since October 2009.
"While signs of a recovery have slowed slightly this month, the data overall still continues to show an upward trend," said Cameron Schmidt, vice president of Intuit’s Employee Management Solutions division.
The index also showed an increase in worker compensation, which Intuit says is another sign that the economic recovery is continuing. Average compensation grew by 0.3 percent to $2,566 per month. Monthly hours worked showed a slight decline, showing that while employees were making more per hour, they were working less.
"Employment and compensation per worker continue to show that a recovery is underway," said Susan Woodward, an economist who worked with Intuit to create the index.
The continued growth of the economy has given encouragement to many small business owners looking to start a corporation. A recent survey of small business owners showed that nearly 80 percent of small business owners feel that the economy is either improving or holding steady.
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