The September 2007 SurePayroll Small Business Scorecard, an economic indicator that tracks the health of U.S. small businesses, reported a rebound in owner optimism, increased small-business hiring and higher small-business salaries.
The percentage of owners saying they are optimistic about the economy fell to 69.5 percent last month but rebounded to 78.3 percent in September, after the Fed lowered interest rates.
"Much of the concern we saw last month regarding the subprime real estate crisis seems to have dissipated," notes SurePayroll president Michael Alter. "It looks like we may have a softer economic landing than most of the pundits expect."
The SurePayroll Hiring Index ended the month at 10,788, a 34-point increase (32 percent) from August. September marked the tenth straight month of hiring growth in the small-business economy. Salaries also continued to rise, albeit at a slow clip. The SurePayroll Pay Index was 1,053 at the end of September, up two points (17 percent) from the end of August. Year to date, small-business hiring is up 3.3 percent and small-business salaries have increased 3.5 percent.
The SurePayroll Small Business Scorecard is based on payroll records of over 18,000 companies who use SurePayroll's payroll service. For more details on SurePayroll's analysis, visit SurePayroll's website.