The latest Small Business Scorecard indicates continued increases in hiring and a significant uptick in business owner confidence about the economy.
The latest Small Business Scorecard indicates continued increases in hiring and a significant uptick in business owner confidence about the economy.Small business owners had a much brighter outlook in April than March and are putting cash behind that optimism with continued increases in hiring. Survey data released today by SurePayroll indicates a 12 point jump (to 67%) in optimism about economic conditions for SMBs and a rise in hiring that now stands at 3.4% year-to-date nationally and an even brighter 3.9% in the Midwest and 3.8% in the West.
Though it would be nice to hop on the SMB optimism bandwagon (insert the WSJ axiom that "two's a coincidence, but three's a trend" here), neither the SurePayroll nor the Intuit data strides into bullish territory. Despite the trend toward hiring, the Scorecard monthly pay index fell 0.1% making the year-to-date decrease 0.3%. Combine that with the employment numbers in the Northeast, which stand at 2.1% and there's ample fodder for a pessimistic view here.
As SurePayroll President Michael Alter said, "Bottom line for small business is that while some good things are happening, until more small businesses start hiring full-time workers -- and those workers spend with confidence due to perceived job security -- it's not time to declare a full recovery."
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