SurePayroll Scorecard tracks small biz hiring trends
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The SurePayroll Scorecard provides monthly data on hiring and paycheck trends among small businesses since 2004. It draws from payroll data of over 1,000 small businesses with 1-10 employees nationwide. The June 2014 report found that nationwide hiring was down 0.6% month-over-month but flat year-over-year, while pay per check was down 1.2% and 0.2% respectively. Optimism among small business owners for the second half of 2014 was up from the first half.
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SurePayroll Scorecard tracks small biz hiring trends
- 1. As the first economic indicator created by a payroll company, the SurePayroll Scorecard has provided a monthly look at national hiring and paycheck trends since October 2004. SurePayroll's Scorecard compiles data from small businesses nationwide, and exclusively reflects the trends affecting the nation's "micro businesses" — those with 1-10 employees. The average business reflected has 6 employees. The SurePayroll Small Business Scorecard - Main Street Matters infographic also includes data for SurePayroll's top 35 MSAs. Contact Lori Bolas 847-676-8420 ext. 7248 loriann.bolas@surepayroll.com Copyright © 2014 SurePayroll. A Paychex Company. All rights reserved. Main Street Matters SMALL BUSINESS SCORECARD® JUN-13 JUL-13 AUG-13 SEPT-13 OCT-13 NOV-13 DEC-13 JAN-14 FEB-14 MAR-14 APR-14 MAY-14 JUNE-14 6.8% 6.7% 6.6% 6.5% 6.4% 6.3% 6.2% 6.1% 6.0% 5.9% 5.8% 5.7% 5.6% 5.5% 6.57% 6.62% 6.79% Use of 1099s is generated from actual payroll data – paychecks issued to contractors and employees – from small businesses nationwide. MONTH- OVER-MONTH CHANGES IN SMALL BUSINESS HIRING & PAYCHECKS YEAR- OVER-YEAR CHANGES IN SMALL BUSINESS HIRING & PAYCHECKS ATLANTA BOSTON CHICAGO CLEVELAND COLUMBUS DALLAS DENVER DETROIT HOUSTON LAS VEGAS LOS ANGELES MIAMI MINNEAPOLIS NASHVILLE NEW YORK NORFOLK ORLANDO PHILADELPHIA PHOENIX RALEIGH-DURHAM RICHMOND SAN DIEGO SAN FRANCISCO SEATTLE TAMPA WASHINGTON DC 0.3% -0.4% -0.2% -0.5% 0.2% 0.2% 1.0% 0.2% -0.5% 0.4% 0.2% 0.1% 0.0% 0.1% 0.2% -0.3% 0.5% 0.9% -0.1% 0.3% 0.1% 0.2% -0.4% -0.1% 0.4% -0.5% -0.1% -0.4% -0.1% -0.5% 0.0% 0.0% -1.1% -0.4% 0.3% -0.7% -0.3% -0.2% -0.4% -0.9% -0.3% 0.3% -0.1% 0.0% -0.9% -0.1% 0.1% -0.2% -0.3% 0.1% -0.5% -0.1% Hiring Index Pay Per Check ATLANTA BOSTON CHICAGO CLEVELAND COLUMBUS DALLAS DENVER DETROIT HOUSTON LAS VEGAS LOS ANGELES MIAMI MINNEAPOLIS NASHVILLE NEW YORK NORFOLK ORLANDO PHILADELPHIA PHOENIX RALEIGH-DURHAM RICHMOND SAN DIEGO SAN FRANCISCO SEATTLE TAMPA WASHINGTON DC 3.6% -7.3% -1.7% -2.2% -1.0% 0.1% 2.9% 2.8% -3.9% -3.6% -0.3% 7.6% -2.5% 0.9% -2.1% 1.0% -2.3% -1.3% 0.4% 8.3% -0.8% -0.4% -2.8% -5.7% 1.9% -2.0% -0.4% -1.1% 0.3% -4.0% 0.5% 6.4% -7.3% 4.1% 3.0% -5.3% -1.6% -5.6% -3.0% -3.1% -1.1% -5.0% 1.9% 3.3% -2.9% -4.4% -5.9% -5.5% -0.1% -4.5% -1.6% -3.5% Hiring Index Pay Per Check Along with profitability, small business owners say they’re seeing revenues increase as well. Two in five expect 2014 revenues to outpace those from last year. Of those expecting to beat 2013 revenues, half expect to do so by 10 percent or more. There are still major challenges, however, including slow economic growth nationwide and struggling local economies. About 50 percent of small business owners cited these as their top concerns. Only 11 percent said health care reform was a major concern. Not having enough cash for hiring or expansion (17 percent), and not being able to find qualified candidates (13 percent) for jobs, were also listed. More on the Small Business Landscape 77% of small business owners surveyed expect to be profitable in the second half of 2014. This is up from the 62 percent who said they were profitable in the first half. Optimism Outlook THE SMALL BUSINESS Dec 2013 Mar 2014Sept 2013 June 2014 69%70% 59% 66% REGIONAL HIRING MAP REGIONAL HIRING MAP Hiring Index Pay Per Check Hiring Index Pay Per Check NATIONWIDE MIDWEST NORTHEAST SOUTH WEST -0.6% -1.5% -3.1% 1.9% -0.9% -1.2% -0.3% -2.6% -0.1% -1.8% NATIONWIDE MIDWEST NORTHEAST SOUTH WEST 0.0% -0.1% -0.2% 0.2% 0.0% -0.2% -0.3% -0.2% 0.0% -0.4% MONTH- OVER-MONTH CHANGES IN SMALL BUSINESS HIRING & PAYCHECKS YEAR- OVER-YEAR CHANGES IN SMALL BUSINESS HIRING & PAYCHECKS JUNE 2014 NATIONAL HIRING AND SALARY INDICES METRO-BASED HIRINGAND SALARY INDICES REGIONAL HIRING AND SALARY INDICES Main Street Matters SUREPAYROLL SMALL BUSINESS SCORECARD® NATIONAL AND REGIONAL DATA NATIONWIDE % OF 1099s METRO AREA