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Small businesses added 40,000 new jobs in May, according to an index released today by Intuit Inc. In addition, the index found average monthly pay for all small business employees fell by 0.13 percent to $2,688 in May, slightly less than the April revised estimate of $2,692 a month.
The index also found small business hourly employees worked an average of 106.4 hours in May, down 0.6 percent from the revised figure of 107.1 hours in April.
The index is based on aggregate and anonymous online employment data from approximately 70,000 businesses with fewer than 20 employees that use Intuit Online Payroll.