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Intuit Inc. : U.S. Small Businesses Add Slightly More Jobs in 2012, See Less Revenue - Report

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01/02/2013 | 09:26am EDT
   By Melodie Warner 
 

U.S. small businesses added more jobs in 2012 despite a slight drop in revenue through November, according to a report by Intuit Inc. (INTU).

The financial-software provider said its inaugural small-business employment and revenue report found that U.S. small businesses added 24,000 jobs in 2012, increasing their employment by 0.12%.

The December Small Business Employment Index also showed an increase of 15,000 new jobs in the final month of 2012, a hiring rate increase of 0.09%.

"Small business employment is still growing, albeit very slowly," said Susan Woodward, an economist who worked with Intuit to create the indexes. "However, the level of small business employment has yet to reach its pre-recession level of 21.2 million jobs in March 2007."

Small-business revenue was down 1.2% between January and November, with a 0.3% drop in November, the ninth consecutive month of revenue decline.

Small-business hourly employees worked an average of 107.4 hours in December, up slightly from 107.3 hours in November.

The average monthly pay for small-business employees rose 0.5% to $2,702 in December from $2,689 in the prior month.

Write to Melodie Warner at melodie.warner@dowjones.com.

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Managers
NameTitle
Sasan K. Goodarzi President, Chief Executive Officer & Director
Brad D. Smith Executive Chairman
Michelle M. Clatterbuck Chief Financial Officer & Executive Vice President
Atticus Tysen Chief Information Officer & Senior Vice President
Marianna Tessel Chief Technology Officer
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