Recent Updates
- US: New Residential Sales with Revisions (Apr)
- Flash PMIs: Japan, France, Germany, Euro Area, UK, US (May)
- UK: Public Finance (Apr), CBI Distributive Trades Survey (May)
- Mexico: Construction (Mar), SemiMonthly CPI (May)
- Brazil: IPCA-15 (May)
- more updates...
Economy in Brief
U.S. Energy Prices Rise Further
Retail gasoline prices increased to $4.59 per gallon in the week ended May 23...
S&P Flash PMIs Are Mixed in May As Manufacturing Erodes Slowly
Among the early reporting countries in Europe and Japan, the S&P PMI readings for May tilt toward weakness...
NABE Lowers Growth Expectations for Next Year & 2022
The NABE expects the economic expansion to continue through its third year...
Chicago Fed National Activity Index Improves in April
The Chicago Fed National Activity Index (CFNAI) rose to 0.47 during April...
IFO Registers Small Rebound on the Month
Germany's IFO index has rebounded on the month...
Viewpoints
Commentaries are the opinions of the author and do not reflect the views of Haver Analytics.
Profits & Margins Plunge In Q1: Expect More Margin Contraction As Fed Squeezes Inflation
The Many Links of Inflation Cycle: Hard Landing Is Needed to Crack Them
Peak Inflation and Fed Policy: A Relationship which Should Worry the Fed and Scare Investors
Why Have the Yields on TIPS Been Negative in the Past Two Years?
by Tom Moeller August 30, 2011
Intuit compiles data covering small business employment and, as of this
month, the figures are still improving. For August, its employment index
rose 0.2% for the ninth consecutive month, but figures before August were
revised down slightly. These increases raised the index 2.2% y/y. The series
fell 6.8% and 3.2% during all of 2009 and 2008, respectively.
In addition, Intuit surveys average monthly compensation and it rose 1.7% y/y. Finally, their figures on overall monthly hours worked rose 1.1% y/y. The latest gain is down from 2.6% last year and figures before the latest one were revised sharply lowerrply lower.
The Intuit Small Business Employment Index is based on anonymous online employment data from small business employers (each with fewer than 20 employees) that use Intuit Online Payroll. These smallest employers comprise about 88 percent of the total U.S. private employer base and employ nearly 20 million people. The Index reflects monthly employment activity in small businesses, and is adjusted to account for changes in Intuit's Online Payroll customers from one month to the next.
The Intuit figures are available in Haver's USECON database.
Intuit Small Business Employment Index | Aug | Jul | Jun | Y/Y% | 2010 | 2009 | 2008 |
---|---|---|---|---|---|---|---|
Employment Index (Jan. 2007 = 100) | 91.25 | 91.08 | 90.89 | 2.2 | 89.19 | 89.99 | 96.60 |
Average Monthly Compensation ($) | 2,649.00 | 2,651.25 | 2,645.70 | 1.7 | 2,603.88 | 2,571.07 | 2,543.88 |
Average Monthly Hours Worked Index | 108.02 | 108.34 | 108.21 | 1.1 | 106.22 | 103.48 | 104.33 |