The most recent report from the Intuit Small Business Employment Index continues a trend showing gradual improvement in small business employment nationwide.
According to the report, employment among U.S. small businesses grew by 0.24 percent in November, marking a 3 percent annual growth rate and the addition of approximately 49,000 new jobs.
"The recovery that began late last summer for small businesses is still underway," said Susan Woodward, an economist who worked on the Intuit Index. "While employment at the national level for all businesses is barely rising, small businesses are showing a more robust increase. This is in line with what we’ve seen with past recessions - small businesses are the first to hire when recovery begins."
On a state level, Massachusetts led the country with a 0.7 percent gain in small business employment. Arizona, New Jersey and Virginia all registered 0.5 percent gains. New York, with its recent surge of tech startups and entrepreneurial activity, marked a 0.2 percent increase - a modest improvement but still good news for entrepreneurs looking to form an LLC in New York.
According to most recent small business surveys, confidence and overall activity seem to be on the rise. Monday's Discover Small Business Watch report for November pointed to a significant hike in small business confidence, registering a three point gain over October and an 11 point gain over the previous year, reaching a current mark of 87.2 points.
Tags : ny, operations, small business management
Posted: Nov 30th, 2010