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The SurePayroll Small Business Scorecard shows month-over-month hiring in October was down 0.1 percent and the average paycheck was down 0.2 percent. Small business owners’ optimism returned to 68 percent, close to where it had hovered for most of the year. SurePayroll Inc. provides online payroll services to small businesses. It is a subsidiary of Paychex Inc. (NASD: PAYX).
Overall, two-thirds of small business owners surveyed said they will not hire or increase wages for permanent employees in the fourth quarter.
“The small business community isn't placing any bets right now and it's no wonder in this uncertain economic environment — uncertainty often leads to inaction,’ said SurePayroll CEO and President Michael Alter. “Hopefully the election results will provide enough clarity around future fiscal and government policies which will spur small business to play their hiring and investment cards.”
SurePayroll's Scorecard compiles data from over 40,000 small businesses, and exclusively reflects the trends affecting businesses with an average of eight employees.