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US small business hiring flat in August, index finds

September 03, 2014

Small businesses added no new jobs in the U.S. in August following a gain of 7,000 jobs in July, according to the small business and revenue indexes by Intuit Inc.

“The labor market for small business is warming,” said Susan Woodward, the economist who works with Intuit to create the indexes. “Though there were no new jobs, the rise in hours worked, full-time workers, compensation, and the hiring rate all show small business activity on the rise.”

Small business employment expansion was slow early in 2014, then picked up to 22,000 jobs per month for March through June, a reflection of the revenue changes per business, according to Woodward.

The index based on aggregate and anonymous online employment data covering the period from July 24 to August 23.