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SB Wages and Hiring Up

Date: 07/11/2006 | Category: Business | Author: Diana Heeb Bivona

A recent survey by SurePayroll found that salaries paid to employees of small U.S. businesses increased for the tenth straight month in June while hiring picked up. The average small business salary across the country now stands at an annualized rate of $30,328. Levels that have not been seen since June 2004. Salaries were up for the year-to-date in all four regions: the Midwest, Northeast, South and West. The West showed the largest gains at 6.3%.

Of the 16,000 respondents, 16% of respondents had hired new employees in June, with only 7% having fewer employees than they had in the prior month. The remaining 77%, ended the month of June with exactly the same number of small business employees as they had in May.

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