Small businesses increased hours and compensation for employees
in March by the most in more than two years, according to a new
survey from Intuit. The average monthly salary for small business
employees rose 0.7%, or $18 per worker, according to Intuit, the
largest percentage gain since December 2009. That is equivalent
to an annual salary of $33,400.
Average monthly hours worked by small business employees
increased by 0.5%, or 36 minutes, making for a 25.8-hour
workweek. The percentage change was also the largest since
December 2009. Intuit notes the gains came even as hiring by
small businesses took a step back, with employers adding 65,000
workers to their payrolls in March. However, February’s small
business payrolls increase was revised up to 75,000 jobs from the
previously reported 55,000.