GLENVIEW, Ill., Oct. 5, 2011 (GLOBE NEWSWIRE) -- SurePayroll, the online alternative in payroll services, today announced September results for its monthly Small Business Scorecard, which includes hiring and wage data for the top 35 U.S. metropolitan statistical areas.
For September 2011, the SurePayroll Small Business Scorecard reveals that on a national level there continues to be flat or decreased hiring for the 12th month in a row, totaling a year-to-date decline in hiring of 2.7%. Wages remain down slightly (0.4%) for the year.
SurePayroll's small business owner sentiment plummeted to an all-time low, as only 33% of business owners report feeling optimistic about the small business economy. That is down significantly from June, when 67% reported being optimistic, as well as last month, when 48% suggested they were optimistic. The SurePayroll Optimism Survey also found that small business owners' confidence in the government's ability to stimulate the economy remains low, despite the recent jobs proposal from the White House.
Other findings from the optimism survey include:
- 20% were more optimistic after the President's speech in early September, while 40% were more pessimistic
- 30% felt the President's proposal would increase jobs, while 70% felt it would do nothing, or decrease jobs
- Only 10% of those surveyed indicated they might hire if the plan is enacted as defined
"The continued economic uncertainty has small businesses sitting on the edge of their seats hoping for a Hollywood ending that doesn't appear likely anytime soon," said Michael Alter, president and CEO of SurePayroll. "The good news is that small businesses are continuing to work smarter in the face of uncertainty, relying on technology to improve efficiency while still getting the most out of employees. Small business owners continue to rely on contractors to fill their needs versus hiring new employees—contractor use showed a month over month (MOM) increase of 2.3%.
A look at the SurePayroll Small Business Scorecard's MSA data shows that for the sixth month in a row, the South remains the only positive hiring region, having experienced minimal MOM growth in hiring. In contrast, the Northeast, Midwest, and West all continue to show negative MOM growth. Year to date, the South is up .4%, while the other regions are all negative.
As the first economic indicator created by a payroll company, the SurePayroll Scorecard has provided a monthly look on national hiring and wage trends since September 2004. SurePayroll's Scorecard compiles data from over 30,000 small businesses, and exclusively reflects the trends affecting the nation's "micro businesses" – those with an average of eight employees. The full SurePayroll Small Business Scorecard including data for the top 35 MSAs is available at www.SurePayroll.com/SurePayroll.
About SurePayroll
SurePayroll, The Online Alternative, is dedicated to providing a convenient and easy-to-use small business payroll service that keeps business owners in control. Over 30,000 customers rely on SurePayroll to process payroll on demand in as few as two minutes. In addition, SurePayroll offers efficient online solutions for managing 401(k) plans, health insurance, workers' compensation, employee screening and more. For accountants and banking partners, SurePayroll provides private-label and co-branded services that enable them to offer online payroll processing to their small business clients. The company has received numerous prestigious awards for its innovative technology, and outstanding customer service and sales teams, including recognition from PC Magazine, Accounting Today, the American Business Awards and many others. SurePayroll is a wholly owned subsidiary of Paychex. For more information, please visit http://www.SurePayroll.com.
About Paychex
Paychex, Inc. (Nasdaq:PAYX) is a leading provider of payroll, human resource, and benefits outsourcing solutions for small- to medium-sized businesses. The company offers comprehensive payroll services, including payroll processing, payroll tax administration, and employee pay services, including direct deposit, check signing, and Readychex®. Human resource services include 401(k) plan recordkeeping, section 125 plans, a professional employer organization, time and attendance solutions, and other administrative services for business. A variety of business insurance products, including group health and workers' compensation, are made available through Paychex Insurance Agency, Inc. Paychex was founded in 1971. With headquarters in Rochester, New York, the company has more than 100 offices serving approximately 564,000 payroll clients nationwide as of May 31, 2011. For more information about Paychex and our products, visit www.paychex.com.