As has been the monthly trend since May of ’08, in this month the Midwest, Northeast and South experienced hiring growth while the West experienced a decline. On the pay side of things, all four regions experienced salary declines in October.
This month, the Northeast beat out the other regions for small business hiring growth with a 5.6 percent year-to-date increase. The Midwest closely followed with a 5.4 percent year-to-date increase. The South saw a 4.0 percent year-to-date increase. Hiring decreased in the West 1.9 percent.
The Northeast had the most hiring, but it’s seeing the biggest year-to-date decrease in salaries (-9.4 percent). And while the West is seeing the least hiring, it is also seeing the smallest year-to-date percentage decline (-2.0 percent). Midwest salaries declined 7.6 percent and the South declined 6.3 percent.
About the Scorecard
The SurePayroll Scorecard is a nationally recognized economic indicator that tracks the health of the U.S. small business economy. Each month, SurePayroll analyzes payroll data using tens of thousands of small businesses across the country, and provides national hiring and salary indices, regional hiring and salary indices, and state-based hiring and salary indices.
An expert in small business issues, SurePayroll President Michael Alter regularly discusses the trends revealed by the Scorecard in various media outlets. He has been a featured guest on dozens of top-rated news shows and his comments often appear in newspapers such as the Wall Street Journal, USA Today and the Chicago Tribune.