Intuit Small Business Employment Index Shows Modest Growth [CHARTS]

This post first appeared on FloatingPath

The Intuit Small Business Employment Index was a reading of 95.02 in November, meaning that U.S. small business employment is at 95.02% of the level it was in January 2007. This is an increase from October’s revised reading of 94.96.

All metrics from this report saw substantial revisions this month.

The November increase in the Employment Index is the first in five months.

The Hours Worked Index was a reading of 108.77, which is the average number of hours worked by U.S. small business employees during the month. This is a 0.56% increase from the 108.16 level in October.

The November increase was the largest single-month increase in the Hours Worked Index since inception. It was also the 7th consecutive monthly increase.

The Compensation Index was a reading of $2,709.66 in November, indicating the average pay during the month to U.S. small business employees (owners included). This is a 0.37% increase from October’s revised reading of $2,699.71.

The increase in November is the 5th consecutive monthly increase in the Compensation Index.

Intuit provides an employment index for 34 states, those which it has more than a thousand customers. Each state is individually indexed to 100 in January of 2007.

The below chart shows the deviation from 100 in each state. Texas is the only U.S. state whose employment level is higher than it was in January 2007. On the other end, Nevada’s employment level is the worst at only 91.23% of its January 2007 level.