GLENVIEW, Ill., Jan. 3, 2012 (GLOBE NEWSWIRE) -- SurePayroll, the online alternative in payroll services, today announced December results for its monthly Small Business Scorecard showing a promising trendof small business owners expressing optimism about the economy. SurePayroll's Small Business Scorecard optimism score climbed to 63 percent in December compared to 53 percent in the previous two months, and up from only 33 percent in September.
"We saw caution in 2011, but the leading indicators suggest 2012 looks positive," said SurePayroll CEO and President Michael Alter. "The sun is on the horizon. Optimism is higher, 50 percent plan to hire and wages look to go up."
Year-over-year Scorecard data shows a hiring decline of 3.2 percent and wages down 0.8 percent. The South saw positive growth in hiring (0.5 percent) and wages (0.4 percent) over the course of the year. The rest of the country was in the red, aside from a slight wages increase (0.1 percent) in the Northeast.
For December 2011, the Scorecard, which also includes hiring and wage data for the top 35 U.S. metropolitan statistical areas, reveals month-over-month declines in nationwide hiring (-0.2 percent) and wages (-0.3 percent). Regionally, it was a similar story, with the Midwest, Northeast, and West showing modest declines across the board, and the South remaining flat in hiring and down slightly in wages.
Despite the sluggishness of 2011, the SurePayroll Small Business Scorecard's optimism survey shows some very positive signs for 2012.
- Along with optimism being up to 63 percent, the highest it has been since June, the survey also shows 50 percent of small business owners plan to hire in 2012.
- Meanwhile, 56 percent plan to increase wages for some or all of their employees in the New Year.
- Only 2 percent plan to cut wages.
The survey also found that 21 percent would seek lending to grow their business. Respondents indicated marketing, new technology and equipment, and upgrades to their facilities as areas where they would invest. Banks were named the main source where respondents would seek lending.
"We really need to make sure lending is easy and accessible," Alter said. "It's been a challenge over the last few years, but hopefully as we look ahead to 2012 that will change."
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. 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 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.