Another View of Employment Numbers
Almost all business people are familiar with the company Intuit, Inc., and the software they offer, as well as their online payroll services. But I only recently discovered that they also publish a monthly Small Business Employment Index, based primarily on the data they have on the 50,000 small business payroll customers they serve.
Each of these customers have fewer than 20 employees, so this is a highly representative statistical sample of small business employment…probably better than the federal government’s numbers.
The Index was developed and is overseen by Dr. Susan Woodward, a nationally recognized economist. Here is what the Small Business Employment Index presents for May 2010:
- Small business employment grew by 0.1 percent, translating into approximately 25,000 new jobs in May. This compares to new jobs in February of 40,000; March of 50,000; and April of 66,000.
- Monthly hours worked declined in May to 101.6 per employee. This translates into an average workweek of 23.5 hours for hourly employees.
- Compensation in May grew by 0.3 percent to $2,566 per month. This translates to about $30,800 per year for all hourly employees.
The good news is that employment is still growing in the small business sector, although May shows a sharp decline in the rate of growth. Let’s hope that May was simply an anomaly and that June will continue to show a more robust growth in employment.
Remember, the Intuit Small Business Employment Index is based on a 50,000 small-business sample of all U.S. businesses with fewer than 20 employees. Also, that this sector makes up 87 percent of all businesses in the U.S.
Jobs are Always Available–Somewhere!
This post is for those of you who are looking for a job.
Job openings may not always be in your neighborhood, nor even in your comfort zone, but they are always available—somewhere. For instance, here is something to consider:
The Canadian Province of Saskatchewan is the fastest growing area in North America, and they are currently sitting on a $3 billion budget surplus (no recession here). Unfortunately, they can’t spend their money on the much-needed infrastructure to support their growth, because there are not enough tradesmen there to do the work. That is why they are sending out recruiting missions to all points of the globe to try to recruit workers. They need 10,000 new workers and their families—immediately.
Yes, it gets cold in Saskatchewan in the winter, but no more so than the northern tier of states in the U.S. The province borders Montana, and North Dakota, and is a mecca of agriculture and natural resources. Here’s a little known fact—the U.S. imports more oil from Saskatchewan than it does from Kuwait.
Saskatchewan is an area about the size of Texas and has only a million residents (Texas has 24 million). So, if you are looking for wide-open spaces away from the big city chaos—and a long-term job—take a look up North. They’ll welcome you with open arms.
You might look at the 10,000 job openings posted on saskjobs.ca and see if there is anything you might be interested in.
Good luck.
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