69.7 F
Fort Worth
Tuesday, September 22, 2020
- Advertisements -
Business Texas sees small business employment increase

Texas sees small business employment increase

Other News

Exxon’s oil slick

Exxon Mobil is slashing its capital spending budget for 2020 by 30% due to weak demand caused by the COVID-19 pandemic and a market...

Folk music’s Mark Twain: 7 Essential tracks from John Prine,

NEW YORK (AP) — Some people, the songs just come out of them. For nearly half a century, they tumbled out of John Prine...

Tarrant County records another COVID-19 death

Tarrant County Public Health (TCPH) on Wednesday, April 8 reported that a resident of Euless has died as the result of the COVID-19 virus....

Tradition stymied: A year unlike any since WWII for Augusta

The Masters is so intertwined with Augusta, they added an extra day to spring break.You see, the first full week of April isn't just...
Robert Francis
Robert Francis
Robert is a Fort Worth native and longtime editor of the Fort Worth Business Press. He is a former president of the local Society of Professional Journalists and was a freelancer for a variety of newspapers, weeklies and magazines, including American Way, BrandWeek and InformatonWeek. A graduate of TCU, Robert has held a variety of writing and editing positions at publications such as the Grand Prairie Daily News and InfoWorld. He is also a musician and playwright.


A. Lee Graham Reporter


Texas saw a .08 percent small business employment increase in May, while 15 other states also enjoyed growth, according to results of the latest monthly Intuit Inc. Small Business Employment and Revenue Indexes. Of 36 states tracked, 16 enjoyed employment growth in May, while 19 experienced declines and one remained flat. “The small business economic picture remains conflicted,” said Susan Woodward, an economist who worked with Intuit to create the indexes. “While May’s small business employment figures are the best we have seen since January 2012, small business revenues have continued to decline month over month on a per-business basis,” said Woodward, commenting in a news release. Small business employment nationwide gained 35,000 new jobs in May, while compensation remained stagnant and hours worked declined. The report found employment increase by 0.18 percent in May, for an annualized growth rate of 2.1 percent. It also found average monthly compensation experiencing no growth in May, remaining steady at the April revised estimate of $2,696. The employment index is based on data from Intuit Online Payroll and QuickBooks Online Payroll, focusing on the period from April 24 through May 23, 2013. “Among the industries tracked, small business retail revenues have been hit the hardest this past quarter, followed by small business health care, which has seen the biggest revenue decline over the past year,” Woodward said. The construction sector continues to be “the silver lining,” Woodward said, the only sector seeing year-over-year revenue growth on a per-business basis. “The good news is the hiring rate, which has been essentially flat since mid-2009, has picked up slightly,” Woodward said. Small business hourly employees worked an average of 106.7 hours in May, representing a 24.6-hour work week. The decline of average monthly hours worked from April to May is consistent with the downward trend that began in mid-2011, Intuit noted. Among states tracked in Intuit’s latest index, Utah and Virginia saw the largest employment increases in May, with 0.3 percent and 0.11 percent, respectively. Suffering the greatest declines were Illinois and Wisconsin, at 0.1 percent each, while Georgia remained The real-estate industry suffered the sharpest revenue decline in April, at 1.5 percent, while the retail industry followed with a 0.8 percent drop. Construction revenues declined the least in April, at 0.4 percent. The index is based on data from QuickBooks Online, monitoring the period from April 1-30, 2013. The Intuit Small Business Revenue Index is based on data from more than 150,000 small businesses, a subset of the total QuickBooks Online financial management user base.  

- Advertisements -
- Advertisements -

Latest News

Powell and Mnuchin voice optimism but back more economic aid

By MARTIN CRUTSINGER AP Economics Writer WASHINGTON (AP) — Federal Reserve Chairman Jerome Powell and Treasury Secretary Steven Mnuchin...

Wall Street steadies itself after 4-day losing streak

By STAN CHOE, DAMIAN J. TROISE and ALEX VEIGA AP Business Writers Stocks moved higher on Wall Street Tuesday,...

Powell: Many small companies can borrow without Main Street

By CHRISTOPHER RUGABER AP Economics WriterWASHINGTON (AP) — Federal Reserve Chair Jerome Powell says that many mid-size U.S. businesses are now able...

Ascension Coffee, ZAAP Kitchen announce openings in Fort Worth

 An Australian-style coffee shop and cafe and a restaurant focusing on Thai Street food and Lao cuisine are coming to Fort Worth.

Transwestern listing downtown Fort Worth office building with modern renovations

Transwestern Real Estate Services on Sept. 21 announced it is the exclusive sales agent for Winfield Place, a 33,064-square-foot, three-story office building...