Index shows smallest businesses add jobs

By Kathy Bergen
Posted Nov. 30, 2010 at 8:40 a.m.

Some of the nation’s smallest businesses continue to add jobs this month, though Illinois’ tally was flat, according to an index released this morning.

Small business employment grew by 0.24 percent in November, or about 49,000 new jobs, according to the report by Intuit Inc., which uses data from 59,000 employers with fewer than 20 employees each. This monthly rate would produce annual growth of 3 percent.

“The recovery that began late last summer for small businesses is still underway,” said Susan Woodward, an economist who worked with Intuit to create the index.

Compensation fell 0.3 percent in November, to $2,592 per month. This translates to $31,100 per year, which for many employees represents pay for part-time work.

Hours worked remained flat in November, reflecting a 24.4-hour work week. This follows a sharp rise in hours in October.

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