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February 2014 scorecard

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Information about February 2014 scorecard
Finance

Published on February 28, 2014

Author: SurePayroll

Source: slideshare.net

Description

How did small businesses weather a cold February? One in three said the weather caused a slowdown, while optimism remained strong. See more results with SurePayroll's February 2014 Scorecard.
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SUREPAYROLL SMALL BUSINESS SCORECARD ® Main Street Matters NATIONAL HIRING AND SALARY INDICES METRO-BASED HIRING AND SALARY INDICES REGIONAL HIRING AND SALARY INDICES FEBRUARY 2014 NATIONAL AND REGIONAL DATA MONTHOVER-MONTH CHANGES YEAROVER-YEAR CHANGES IN SMALL BUSINESS HIRING & PAYCHECKS Hiring Index Pay Per Check NATIONWIDE -0.1% -0.1% MIDWEST -0.2% NORTHEAST IN SMALL BUSINESS HIRING & PAYCHECKS Hiring Index Pay Per Check NATIONWIDE -0.6% -1.2% 0.2% MIDWEST -1.4% 1.0% -0.4% -0.3% NORTHEAST -2.8% -2.7% SOUTH 0.1% -0.3% SOUTH 2.2% -0.5% WEST 0.0% 0.1% WEST -2.0% -1.1% REGIONAL HIRING MAP REGIONAL HIRING MAP THE SMALL BUSINESS Optimism Outlook 75% 72% 69% 63% May 2013 Aug 2013 Nov 2013 Feb 2014 More on the Small Business Landscape 34 While the weather certainly had an impact on business in February, more than 60 percent of small business owners also said the cost of salary and wages is a barrier to hiring right now. One in three are not finding qualified candidates. If cost was not an issue, small business owners said sales, marketing and administrative assistant personnel would be at the top of their hiring list. Despite the severe weather, only 37 percent have a disaster plan in place for their businesses. % of small business owners surveyed experienced a slowdown during the first two months of the year due to severe weather. METRO AREA MONTHOVER-MONTH CHANGES YEAROVER-YEAR CHANGES IN SMALL BUSINESS HIRING & PAYCHECKS Hiring Index Pay Per Check ATLANTA 0.5% -0.2% BOSTON -0.5% CHICAGO IN SMALL BUSINESS HIRING & PAYCHECKS Hiring Index Pay Per Check ATLANTA 4.4% -1.5% 0.9% BOSTON -9.9% -4.8% -0.3% 0.5% CHICAGO -2.1% 1.0% CLEVELAND -0.4% -0.8% CLEVELAND 0.8% -2.9% COLUMBUS 0.2% 0.1% COLUMBUS -2.6% 1.4% DALLAS -0.1% 0.2% DALLAS 1.7% 10.3% DENVER 0.3% -0.9% DENVER -2.7% -9.0% DETROIT 0.3% 0.1% DETROIT -0.2% 10.3% HOUSTON -0.1% 0.1% HOUSTON -1.4% 1.5% LAS VEGAS 0.1% -0.4% LAS VEGAS -5.0% -2.2% LOS ANGELES 0.3% -0.2% LOS ANGELES -2.2% -2.2% MIAMI 0.3% -0.4% MIAMI 9.5% -5.5% MINNEAPOLIS -0.1% 0.0% MINNEAPOLIS -2.8% -1.8% NASHVILLE 0.0% -0.2% NASHVILLE -0.4% 2.9% NEW YORK -0.1% -0.4% NEW YORK -3.6% -0.7% NORFOLK -0.3% -0.2% NORFOLK 2.3% -5.6% ORLANDO -0.4% 0.3% ORLANDO -3.4% -0.8% PHILADELPHIA 0.1% -0.4% PHILADELPHIA -5.7% 2.9% PHOENIX -0.1% -0.2% PHOENIX 1.4% -1.6% RALEIGH-DURHAM 0.4% -0.5% RALEIGH-DURHAM 9.4% -5.0% RICHMOND -0.2% 0.1% RICHMOND -0.8% -9.8% SAN DIEGO 0.1% -0.7% SAN DIEGO -1.5% -5.6% SAN FRANCISCO -0.3% 0.8% SAN FRANCISCO -1.9% 1.7% SEATTLE -0.3% 0.1% SEATTLE -7.9% -2.9% TAMPA 0.1% -0.4% TAMPA 0.7% 1.9% WASHINGTON DC -0.3% -0.5% WASHINGTON DC -0.7% -3.9% NATIONWIDE % OF 1099s 6.74% 6.8% 6.7% 6.6% 6.73% 6.5% 6.46% 6.4% 6.3% 6.2% 6.1% 6.0% 5.9% 5.8% 5.7% 5.6% FEB-14 JAN-14 DEC-13 NOV-13 OCT-13 SEPT-13 AUG-13 JUL-13 JUN-13 MAY-13 APR-13 MAR-13 FEB-13 5.5% Use of 1099s is generated from actual payroll data – paychecks issued to contractors and employees – from small businesses nationwide. SMALL BUSINESS SCORECARD ® Main Street Matters As the first economic indicator created by a payroll company, the SurePayroll Scorecard has provided a monthly look at national hiring and paycheck trends since October 2004. SurePayroll's Scorecard compiles data from small businesses nationwide, and exclusively reflects the trends affecting the nation's "micro businesses" — those with 1-10 employees. The average business reflected has 6 employees. The SurePayroll Small Business Scorecard - Main Street Matters infographic also includes data for SurePayroll's top 35 MSAs. Contact Lori Bolas 847-676-8420 ext. 7248 loriann.bolas@surepayroll.com Copyright © 2014 SurePayroll. A Paychex Company. All rights reserved.

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