GLENVIEW, Ill., Feb. 29, 2012 (GLOBE NEWSWIRE) -- Some of the data from today's release is incorrect. Below please find the corrected version.
SurePayroll, the leader in providing online payroll to small businesses nationwide, today announced February results for its monthly SurePayroll Small Business Scorecard® showing small business owners' optimism about the economy essentially flat -- inching to a 66 percent from 65 percent in January.
Month-over-month, SurePayroll Scorecard data shows hiring is up nationally at 0.04 percent from -0.2 percent in January. Wages are slightly down nationally at -0.2 percent. Month-over-month regional hiring outlooks are positive with slight growth in the Midwest, Northeast and South. Hiring in the West is down 0.4 percent. Wages regionally were slightly up in the Midwest and Northeast, slightly down in the South and flat in the West. Year-over-year statistics indicate both hiring (-2.0 percent) and wages (-1.5 percent) slightly down nationally and regionally.
"The small business economy seems to be playing out like a scene from the movie Groundhog Day. Month-over-month it's been a looping rerun but then at end of the scene there's a small positive change – a minor up tick in hiring. This at least is a positive sign that a shift may come," said SurePayroll President and CEO Michael Alter. "Rising gas prices are a looming cliff hanger that could kill our Hollywood ending since every dollar spent at the gas pump could mean a dollar not spent on Main Street. Relief at the pump may be critical to seeing even a slight positive trend continue."
Still despite major areas of uncertainty such as gas prices, the European economic crisis and the presidential race, small business owners continue planning to invest in moving their business forward. The SurePayroll Scorecard Optimism Survey indicates that business owners are planning for good things ahead with 50 percent saying they will invest in technology in the next 6 to 12 months to improve efficiency, better manage customer relations and increase sales. Owners report that technology upgrades will be focused on the following areas: business management, advertising and marketing and back office infrastructure.
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 35,000 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.
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. More than 35,000 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 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.