Hiring increased nearly 2 percent in the month of February, with continued and increasing reliance on independent contractors. Paychecks have increased slightly for the second month in a row, indicating that wages could be stabilizing.
February 2010 National Small Business Trends
Small business hiring and paychecks both rose in the month of February, though the wage increase was so small that it did not move the index, which is rounded to the nearest whole number.
The Hiring Index is a proxy for the size of the average small business workforce, including employees and contractors. Its rise of 126 points this month implies that small businesses continue to hire despite the tough economy. Though just up one point from the previous month, the average small business salary finally increased after 23 months of a downward trend.
|SurePayroll Hiring Index||SurePayroll Pay Index|
February 2010 Regional Small Business Trends
This month, all regions experienced increases in hiring and paychecks, though the wage increase in the Northeast was so small that it did not move the index, which is rounded to the nearest whole number.
The SurePayroll Hiring Index and the SurePayroll Pay Index are generated as part of SurePayroll’s Small Business Scorecard, an economic indicator that tracks the health of the U.S. small business economy. The Small Business Scorecard is generated from actual payroll data — paychecks issued to contractors and employees — for tens of thousands of small businesses nationwide.