SurePayroll Small Business Scorecard® Shows Hiring Still in Slow Decline
SurePayroll Small Business Scorecard®Shows Hiring Still in Slow Decline
Small business owners get creative during tough 2012
GLENVIEW, Ill.--(BUSINESS WIRE)-- SurePayroll Inc., a leader in providing online payroll to small businesses nationwide, today announced December results for its monthly SurePayroll Small Business Scorecard® showing month-over-month hiring was down 0.1 percent and the average paycheck was up ever so slightly 0.1 percent. Small business owners' optimism sits at 55 percent, down five points from last month.
"Small businesses had been asked to play a game where they didn't know the rules in 2012," said SurePayroll CEO and President Michael Alter, referring to uncertainty over government action. "That being the case, they'd rather just not play. That's likely why we've seen a drag on hiring throughout the year. On the bright side, they've been innovative and creative. Our customers tell us they've been using new services to outsource nonessential work and technology to increase productivity, as well as focusing on their most profitable customers."
Month-over-month SurePayroll Scorecard data showed hiring down 0.1 percent and the average paycheck was up slightly at 0.1 percent. Hiring was down month over month in every region of the country except for the South, where it was up 0.3 percent. Paychecks were up month over month in the Midwest (0.2 percent) and West (0.2 percent), and down or flat across the rest of the country.
Year over year, nationwide hiring is down only 1.3 percent and paychecks are down 1.0 percent. Year over year, the South is the only region where hiring was up at 1.7 percent and paychecks there were down 0.5 percent. The West shows a hiring decline at 4.8 percent, with paychecks down 0.4 percent. Hiring in the Midwest is down 1.9 percent and paychecks are positive, up 1.8 percent. In the Northeast, hiring is down 1.9 percent and paychecks are down 4.4 percent.
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 September 2004. SurePayroll's Scorecard compiles data from more than 40,000 small businesses, and exclusively reflects the trends affecting the nation's "micro businesses" — those with an average of eight employees.
The full SurePayroll Small Business Scorecard infographic, which includes data for the top 35 MSAs, will be available soon at www.SurePayroll.com/scorecard.
SurePayroll is a wholly owned subsidiary of Paychex, providing an easy, online, convenient payroll service that keeps our more than 40,000 small business customers in control. SurePayroll also offers efficient online solutions for managing 401(k) plans, health insurance, workers' compensation, employee screening and more. For accountants and banking partners, SurePayroll provides private-label and co-branded services that enable them to offer online payroll processing to their small business clients. The company has received numerous prestigious awards for its innovative technology, and outstanding customer service and sales teams, including recognition from PC Magazine, Accounting Today, the American Business Awards and many others. For more information, please visit www.SurePayroll.com.
Paychex, Inc. (NAS: PAYX) is a leading provider of payroll, human resource, and benefits outsourcing solutions for small- to medium-sized businesses. The company offers comprehensive payroll services, including payroll processing, payroll tax administration, and employee pay services, including direct deposit, check signing, and Readychex®. Human resource services include 401(k) plan recordkeeping, section 125 plans, a professional employer organization, time and attendance solutions, and other administrative services for business. A variety of business insurance products, including group health and workers' compensation, are made available through Paychex Insurance Agency, Inc. Paychex was founded in 1971. With headquarters in Rochester, New York, the company has more than 100 offices serving approximately 567,000 payroll clients as of May 31, 2012. For more information about Paychex and our products, visit www.paychex.com.
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