More Dollars and Hours for Employees
Small business employees are earning more and working longer hours.
According to an Intuit poll the average salary of a small business employee increased by about $18 this past month, a larger spike than employees have seen in two years. That is a .7% rise in monthly salaries.
Employees are also working more hours. Small businesses are working an average of 36 more minutes a month, the same Intuit report found. This is also the largest increase in two years.
“This is the strongest small business employment report we have had in a long time,” said Susan Woodward, an economist who worked on the Intuit study. “However, we are not out of the woods yet. While the various indicators of this market are the strongest we’ve seen in a while, the rate of increase will not get us back to full employment any time soon.”
Are your employees earning more and working longer hours?