Small-business owners' optimism has declined, reports the August 2007 SurePayroll Small Business Scorecard, an economic indicator that tracks the health of U.S. small businesses.
The percentage of owners saying they're optimistic about the economy stood at 80.4 percent in June, fell to 76.6 percent in July and dropped to 69.5 percent last month.
Despite growing pessimism, SurePayroll reported that hiring was up in August and that salaries also increased.
The SurePayroll Hiring Index ended the month at 10,754, a 38-point increase (0.36 percent) from July and the ninth straight month of hiring growth. The SurePayroll Pay Index clocked in at 1,051 at the end of August, up three points (0.28 percent) from the end of July. The average small business salary for the U.S. now stands at an annualized rate of $32,317.
Year to date, small-business hiring is up 3.0 percent, and small-business salaries have increased 3.3 percent.
The SurePayroll Small Business Scorecard is based on payroll records of more than 18,000 companies that use SurePayroll's payroll service. For more details on SurePayroll's analysis, visit SurePayroll's website.