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Nevada small businesses see increased hiring in January


Nevada small businesses added jobs in January.

According to Intuit’s Small Business Index, hiring at small businesses in the Silver State rose 0.14 percent in the month.

Nevada’s small businesses posted stronger hiring numbers than their national counterparts. Nationally, small-business hiring increased only 0.4 percent month over month in January, the survey said.

That figure translates to 10,000 jobs being added to small business payrolls nationwide, down from 20,000 added in December. The index found employment improved in 24 of 38 states, while 10 states showed employment declines and four remained flat.

Kentucky saw the largest employment increase last month, at 0.3 percent. Pennsylvania posted the largest decline at 0.13 percent.

Nevada’s 0.14 percent growth rate was tied for third with Minnesota and Arizona.

“Businesses with one to 19 employees now employ 20.3 million people,” said Susan Woodward, an economist who works with Intuit to create the indexes. “That number is still below the 21.2 million they employed in March 2007, but it is a welcome change from the employment stall from May through October.”

Although hiring continued to improve, monthly compensation and hours worked declined for employees.

Average monthly compensation was down 50 cents last month to $2,703, translating to yearly wages of about $32,400. The survey also found the average monthly hours decreased 0.2 percent, or 12 minutes, to 107.2 hours.

Small-business revenues also declined in December, the most recent month with revenue data available. Revenues at U.S. small businesses fell 0.5 percent.

The employment index is based on data from Intuit Online Payroll and QuickBooks Online Payroll, covering the period from Dec. 24 to Jan. 23.

Contact reporter Chris Sieroty at csieroty@reviewjournal.com or 702-477-3893. Follow @sierotyfeatures on Twitter.

 

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