Marketwatch reports that small business employment grew by 0.09 percent in June, equating to a 1.10 percent annual growth rate, according to the latest Intuit Inc.Small Business Employment Index.
This translates to approximately 18,000 new jobs in June and a revised estimate of 330,000 total new jobs since October 2009. The monthly report is based on figures from the country’s smallest businesses that use Intuit Online Payroll.
“Employment rose, but the rise was at a slower rate for June than for previous months,” said Dr. Susan Woodward, the nationally recognized economist who worked with Intuit to create the index. “At this point in a recovery, the labor market is still sufficiently slack so small businesses should still be hiring vigorously. They are hiring, but not as fast as in the first quarter.”
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