Kentucky jobs increased by 0.06 percent last month
MOUNTAIN VIEW, Calif (July 31, 2014) — U.S. small businesses added 15,000 jobs in July, bringing the number of new jobs added over the last six months to more than 90,000, according to findings of the monthly Intuit Inc. Small Business Employment and Revenue Indexes. While 610,000 jobs have been added since the small business recovery began in March 2010, small business employment remains 870,000 jobs below its peak in March 2007.
The 15,000 new jobs more than doubles the average number of 7,000 jobs added each month between July 2013 and January 2014.
Employees’ average monthly compensation declined 0.2 percent, a drop of $6 from June’s revised figure.
Average monthly hours worked by hourly employees decreased from June to July by 0.3 percent, which equates to a total of 18 minutes.
Hourly small business employees worked an average of 107.2 hours in July, a decline of roughly 0.3 percent, or 18 minutes, translating to a 24.7-hour work week.
Average monthly pay for small business employees decreased by 0.2 percent, falling $6 from last month for a total of, $2,708 in July. The equivalent yearly wages would be approximately $32,500. The hourly wage rose just slightly, by 4 cents, reaching $16 for the first time.
The increase in small business employment was not even across the country. Among the 40 states that Intuit tracks, 29 showed growth while 11 states saw declines. Idaho and Utah reported the highest increase, at 0.4 percent; for the third consecutive month, Michigan saw the greatest decline in small business employment. While most states saw an increase, employment trends were soft in the Great Lakes and New England regions.