Glenview, Illinois (PRESS RELEASE – August 8, 2011) – SurePayroll, the online alternative in payroll services, recently announced July results for its monthly Small Business Scorecard, which recently expanded to include hiring and wage data for the top 35 U.S. metropolitan statistical areas.
For July 2011, both hiring and paycheck levels are down slightly from the previous month, resulting in YTD decreases of 2.4% and 0.3% respectively. In addition, optimism among small business owners decreased from 67% in June to 47% in July. As the first economic indicator created by a payroll company, the SurePayroll Scorecard has provided a monthly look at national hiring and wage trends since September 2004.
SurePayroll President and CEO Michael Alter, a small business advocate who regularly analyzes small business economic data to provide insights into the small business economy, points to positive growth in cities such as Orlando, Greensboro, and St. Louis. However, he says that overall, the recent figures illustrate that the economy is heading in the wrong direction.
“According to our data that shows 10 straight months of down to flat hiring numbers, we seem to have slid out of neutral and into reverse. And recent uncertainty over the debt ceiling has naturally caused more concern among small business owners, who halted decisions regarding investing in their growth until it was resolved,” said Alter. “Now that gridlock has ended and we have an answer about which direction we’re taking, maybe the economy’s back-pedaling will be slowed. But small businesses should plan for driving in reverse, most likely longer than we’d all like.”
SurePayroll’s Scorecard compiles data from over 30,000 small businesses, and exclusively reflects the trends affecting the nation’s “micro businesses” – those with an average of eight employees.
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
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 536,000 payroll clients nationwide as of May 31, 2010.