SurePayroll Small Business Scorecard May 2014
1
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 October 2004. SurePayroll's Scorecard compiles data from small businesses nationwide, and exclusively reflects the trends affecting the nation's "micro businesses" — those with 1-10 employees. The average business reflected has 6 employees. The SurePayroll Small Business Scorecard - Main Street Matters infographic also includes data for SurePayroll's top 35 MSAs. Contact Lori Bolas 847-676-8420 ext. 7248 [email protected] Copyright © 2014 SurePayroll. A Paychex Company. All rights reserved. Main Street Matters SMALL BUSINESS SCORECARD ® MAY-13 JUN-13 JUL-13 AUG-13 SEPT-13 OCT-13 NOV-13 DEC-13 JAN-14 FEB-14 MAR-14 APR-14 MAY-14 6.8% 6.7% 6.6% 6.5% 6.4% 6.3% 6.2% 6.1% 6.0% 5.9% 5.8% 5.7% 5.6% 5.5% 6.78% 6.68% 6.54% Use of 1099s is generated from actual payroll data – paychecks issued to contractors and employees – from small businesses nationwide. MONTH- OVER-MONTH CHANGES IN SMALL BUSINESS HIRING & PAYCHECKS YEAR- OVER-YEAR CHANGES IN SMALL BUSINESS HIRING & PAYCHECKS ATLANTA BOSTON CHICAGO CLEVELAND COLUMBUS DALLAS DENVER DETROIT HOUSTON LAS VEGAS LOS ANGELES MIAMI MINNEAPOLIS NASHVILLE NEW YORK NORFOLK ORLANDO PHILADELPHIA PHOENIX RALEIGH-DURHAM RICHMOND SAN DIEGO SAN FRANCISCO SEATTLE TAMPA WASHINGTON DC 0.2% -0.7% -0.2% -0.6% 0.5% -0.2% 0.7% 0.0% -0.6% 0.3% 0.0% 0.2% 0.0% -0.1% 0.0% -0.4% 0.5% 1.1% -0.2% 0.5% 0.1% -0.1% -0.5% -0.2% 0.5% -0.5% 0.3% -0.8% 0.0% -0.6% -0.1% 0.1% -1.5% -0.6% 0.0% -0.8% -0.2% -0.5% -0.2% -0.6% -0.6% 0.0% 0.3% -0.3% -0.5% 0.0% 0.2% -0.2% -0.3% -1.4% -0.7% -0.2% Hiring Index Pay Per Check ATLANTA BOSTON CHICAGO CLEVELAND COLUMBUS DALLAS DENVER DETROIT HOUSTON LAS VEGAS LOS ANGELES MIAMI MINNEAPOLIS NASHVILLE NEW YORK NORFOLK ORLANDO PHILADELPHIA PHOENIX RALEIGH-DURHAM RICHMOND SAN DIEGO SAN FRANCISCO SEATTLE TAMPA WASHINGTON DC 3.9% -8.0% -1.7% -1.5% -1.2% 0.1% 1.3% 2.3% -3.5% -5.0% -0.8% 8.0% -2.6% 0.7% -2.8% 1.8% -3.2% -3.1% 0.5% 8.8% -1.0% -0.7% -2.5% -6.3% 1.5% -1.5% -0.6% -2.5% 0.5% -4.0% 0.7% 7.4% -7.1% 6.0% 1.1% -4.0% -1.6% -5.8% -2.9% -1.3% -1.2% -5.7% 1.6% 3.3% -1.9% -4.4% -6.6% -5.4% 0.2% -5.1% -0.8% -3.6% Hiring Index Pay Per Check One in three small business owners said they would look to hire if they needed to bring in a specific expertise to accommodate clients’ needs, or if there was simply too much to do. Almost no one (0.2 percent) said they would hire someone to coordinate operations and/or perform administrative tasks. This is down from 28 percent the year before. When they do look to hire, 48 percent of small business owners said finding qualified candidates is a challenge; 34 percent said finding the right candidate for the salary offered. More on the Small Business Landscape 67 % of small business owners surveyed said that if they see an increase in demand, it would spur them to hire. This is a significant leap from one year ago, when only 30 percent said an increase in demand would cause them to hire. Optimism Outlook THE SMALL BUSINESS Nov 2013 Feb 2014 Aug 2013 May 2014 69% 63% 72% 75% REGIONAL HIRING MAP REGIONAL HIRING MAP Hiring Index Pay Per Check Hiring Index Pay Per Check NATIONWIDE MIDWEST NORTHEAST SOUTH WEST -0.7% -1.6% -3.2% 1.9% -1.2% -1.1% 0.1% -2.7% -0.1% -1.5% NATIONWIDE MIDWEST NORTHEAST SOUTH WEST -0.1% -0.2% -0.4% 0.1% -0.1% -0.2% -0.2% -0.4% 0.1% -0.4% MONTH- OVER-MONTH CHANGES IN SMALL BUSINESS HIRING & PAYCHECKS YEAR- OVER-YEAR CHANGES IN SMALL BUSINESS HIRING & PAYCHECKS MAY 2014 NATIONAL HIRING AND SALARY INDICES METRO-BASED HIRING AND SALARY INDICES REGIONAL HIRING AND SALARY INDICES Main Street Matters SUREPAYROLL SMALL BUSINESS SCORECARD ® NATIONAL AND REGIONAL DATA NATIONWIDE % OF 1099s METRO AREA
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SurePayroll's May 2014 Scorecard shows small business optimism at a yearly high of 75 percent. Additionally, 67 percent said that they'd add employees if demand for their products and services increases. Find more details inside SurePayroll's May 2014 Small Business Scorecard.
Transcript of SurePayroll Small Business Scorecard May 2014
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 October 2004. SurePayroll's Scorecard compiles data from small businesses nationwide, and exclusively reflects the trends affecting the nation's "micro businesses" — those with 1-10 employees. The average business reflected has 6 employees. The SurePayroll Small Business Scorecard - Main Street Matters infographic also includes data for SurePayroll's top 35 MSAs.
Contact Lori Bolas 847-676-8420 ext. 7248 [email protected]
Copyright © 2014 SurePayroll. A Paychex Company. All rights reserved.
Main Street MattersSMALL BUSINESS SCORECARD®
MAY
-13
JUN-
13
JUL-
13
AUG-
13
SEPT
-13
OCT-
13
NOV-
13
DEC-
13
JAN-
14
FEB-
14
MAR
-14
APR-
14
MAY
-14
6.8%
6.7%
6.6%
6.5%
6.4%
6.3%
6.2%
6.1%
6.0%
5.9%
5.8%
5.7%
5.6%
5.5%
6.78%
6.68%
6.54%
Use of 1099s is generated from actual payroll data – paychecks issued to contractors and employees – from small businesses nationwide.
MONTH-OVER-MONTH
CHANGESIN SMALL BUSINESS HIRING & PAYCHECKS
YEAR-OVER-YEAR
CHANGESIN SMALL BUSINESS HIRING & PAYCHECKS
ATLANTA
BOSTON
CHICAGO
CLEVELAND
COLUMBUS
DALLAS
DENVER
DETROIT
HOUSTON
LAS VEGAS
LOS ANGELES
MIAMI
MINNEAPOLIS
NASHVILLE
NEW YORK
NORFOLK
ORLANDO
PHILADELPHIA
PHOENIX
RALEIGH-DURHAM
RICHMOND
SAN DIEGO
SAN FRANCISCO
SEATTLE
TAMPA
WASHINGTON DC
0.2%
-0.7%
-0.2%
-0.6%
0.5%
-0.2%
0.7%
0.0%
-0.6%
0.3%
0.0%
0.2%
0.0%
-0.1%
0.0%
-0.4%
0.5%
1.1%
-0.2%
0.5%
0.1%
-0.1%
-0.5%
-0.2%
0.5%
-0.5%
0.3%
-0.8%
0.0%
-0.6%
-0.1%
0.1%
-1.5%
-0.6%
0.0%
-0.8%
-0.2%
-0.5%
-0.2%
-0.6%
-0.6%
0.0%
0.3%
-0.3%
-0.5%
0.0%
0.2%
-0.2%
-0.3%
-1.4%
-0.7%
-0.2%
HiringIndex
PayPer Check
ATLANTA
BOSTON
CHICAGO
CLEVELAND
COLUMBUS
DALLAS
DENVER
DETROIT
HOUSTON
LAS VEGAS
LOS ANGELES
MIAMI
MINNEAPOLIS
NASHVILLE
NEW YORK
NORFOLK
ORLANDO
PHILADELPHIA
PHOENIX
RALEIGH-DURHAM
RICHMOND
SAN DIEGO
SAN FRANCISCO
SEATTLE
TAMPA
WASHINGTON DC
3.9%
-8.0%
-1.7%
-1.5%
-1.2%
0.1%
1.3%
2.3%
-3.5%
-5.0%
-0.8%
8.0%
-2.6%
0.7%
-2.8%
1.8%
-3.2%
-3.1%
0.5%
8.8%
-1.0%
-0.7%
-2.5%
-6.3%
1.5%
-1.5%
-0.6%
-2.5%
0.5%
-4.0%
0.7%
7.4%
-7.1%
6.0%
1.1%
-4.0%
-1.6%
-5.8%
-2.9%
-1.3%
-1.2%
-5.7%
1.6%
3.3%
-1.9%
-4.4%
-6.6%
-5.4%
0.2%
-5.1%
-0.8%
-3.6%
HiringIndex
PayPer Check
One in three small business owners said they would look to hire if they needed to bring in a specific expertise to accommodate clients’ needs, or if there was simply too much to do. Almost no one (0.2 percent) said they would hire someone to coordinate operations and/or perform administrative tasks. This is down from 28 percent the year before. When they do look to hire, 48 percent of small business owners said finding qualified candidates is a challenge; 34 percent said finding the right candidate for the salary offered.
More on the Small Business Landscape 67%
of small business owners surveyed said that if they see an increase in demand, it would spur them to hire. This is a significant leap from one year ago, when only 30 percent said an increase in demand would cause them to hire.
Optimism OutlookTHE SMALL BUSINESS
Nov 2013 Feb 2014Aug 2013 May 2014
69%63%
72% 75%
REGIONAL HIRING MAP REGIONAL HIRING MAP
HiringIndex
PayPer Check
HiringIndex
PayPer Check
NATIONWIDE
MIDWEST
NORTHEAST
SOUTH
WEST
-0.7%
-1.6%
-3.2%
1.9%
-1.2%
-1.1%
0.1%
-2.7%
-0.1%
-1.5%
NATIONWIDE
MIDWEST
NORTHEAST
SOUTH
WEST
-0.1%
-0.2%
-0.4%
0.1%
-0.1%
-0.2%
-0.2%
-0.4%
0.1%
-0.4%
MONTH-OVER-MONTH
CHANGESIN SMALL BUSINESS HIRING & PAYCHECKS
YEAR-OVER-YEAR
CHANGESIN SMALL BUSINESS HIRING & PAYCHECKS
MAY 2014
NATIONAL HIRING AND SALARY INDICES
METRO-BASED HIRING AND SALARY INDICES
REGIONAL HIRING AND SALARY INDICES
Main Street Matters
SUREPAYROLL SMALL BUSINESS SCORECARD®
NATIONAL AND REGIONAL DATA
NATIONWIDE % OF 1099s
METRO AREA
