Small business hiring continued at the same rate as June, giving us two consecutive months of +0.2 percent nationwide hiring growth. The average paycheck, however, has leveled off, remaining flat month-over-month since June’s -0.6 percent dip over May. That brings us to a year-to-date increase in small business hiring of 4.1 percent — a +0.2 percent increase over June — and a year-to-date pay decrease of -0.4 percent.

July's Hiring Index and Optimism Meter

Year To Date Changes in Small Business Size and Average Paycheck for Select States as of July 31, 2010

July 2010 National Small Business Trends

Small business hiring rose while paycheck sizes flatlined in July.

The Hiring Index is a proxy for the size of the average small business workforce, including employees and contractors. Its rise of 20 points this month implies continuous, modest hiring gains in the small business sector. With no change from the previous month, the average small business paycheck is temporarily stable.

SurePayroll Hiring Index SurePayroll Pay Index
July ’10 12,138 939
June ’10 12,118 939
May ’10 12,092 945
April ’10 12,061 946
March ’10 12,030 947
February ’10 11,880 944
January ’10 11,754 944
December ’09 11,663 943
November ’09 11,571 947
October ’09 11,523 954
September ’09 11,494 962
August ’09 11,489 967
July ’09 11,468 976

July 2010 Regional Small Business Trends

July’s regional results reflect the national results of modest hiring gains and small paycheck size differences, with some dips and upticks. All regions except the Midwest experienced hiring growth. The Midwest and West saw paycheck size increases of 0.1 percent and 0.3 percent, respectively, while the Northeast suffered a -0.1 percent dip and the South remained flat.

 

Midwest Results

SurePayroll Hiring Index SurePayroll Pay Index
July ’10 11,700 946
June ’10 11,701 944
May ’10 11,681 950
April ’10 11,639 952
March ’10 11,583 951
February ’10 11,428 951
January ’10 11,302 950
December ’09 11,201 947
November ’09 11,086 951
October ’09 11,013 954
September ’09 10,957 968
August ’09 10,923 976
July ’09 10,870 986

Northeast Results

SurePayroll Hiring Index SurePayroll Pay Index
July ’10 12,448 957
June ’10 12,414 958
May ’10 12,393 962
April ’10 12,375 961
March ’10 12,360 962
February ’10 12,249 959
January ’10 12,187 959
December ’09 12,118 952
November ’09 12,035 957
October ’09 11,960 973
September ’09 11,960 973
August ’09 11,946 978
July ’09 11,903 987

South Results

SurePayroll Hiring Index SurePayroll Pay Index
July ’10 11,880 944
June ’10 11,858 944
May ’10 11,823 948
April ’10 11,782 951
March ’10 11,750 952
February ’10 11,617 949
January ’10 11,493 948
December ’09 11,422 941
November ’09 11,336 940
October ’09 11,289 943
September ’09 11,252 947
August ’09 11,252 951
July ’09 11,218 957

West Results

SurePayroll Hiring Index SurePayroll Pay Index
July ’10 11,599 1,134
June ’10 11,585 1,131
May ’10 11,572 1,135
April ’10 11,565 1,132
March ’10 11,553 1,127
February ’10 11,383 1,120
January ’10 11,241 1,116
December ’09 11,142 1,119
November ’09 11,072 1,120
October ’09 11,052 1,124
September ’09 11,063 1,128
August ’09 11,087 1,129
July ’09 11,119 1,133

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