A 22-month run of small-business salary increases ended last month, according to the May 2007 SurePayroll Small Business Scorecard, an economic indicator that tracks the health of U.S. small businesses.
The SurePayroll Scorecard Pay Index remained at 1,048, equating to a $32,225 average salary for small business employees in the U.S. Small-business hiring continued to increase in July. The SurePayroll Scorecard Hiring Index ended July at 10,716, a 40-point increase from June.
SurePayroll also noted a decline in small-business owner optimism on the economy. In July 2007, the ranks of the optimistic dropped considerably, down to 76.6 percent. In the previous month, 80.4 percent of surveyed small-business owners said they were optimistic about the economy. Principal reasons cited for dropping optimism included a slumping real estate industry, higher food prices and high gas prices.
The SurePayroll Small Business Scorecard is based on payroll records of more than 18,000 companies who use SurePayroll's payroll service. For more details on SurePayroll's analysis, visit SurePayroll's website.