Press release from Business Wire
SurePayroll Small Business Scorecard® Shows Concern on Health Care
<p class='bwalignc'> <i>Optimism drops for small business owners</i> </p>
Friday, October 04, 2013
SurePayroll Small Business Scorecard® Shows Concern on Health Care10:53 EDT Friday, October 04, 2013
GLENVIEW, Ill. (Business Wire) -- SurePayroll Inc., a leader in providing online payroll to small businesses nationwide, today announced results for the September 2013 SurePayroll Small Business Scorecard® showing optimism falling to 59 percent, after being as high as 72 percent last month. Month-over-month hiring was flat in September and the average paycheck was down 0.4 percent.
As health care reform begins, and in the midst of a government shutdown, 43 percent of small business owners surveyed said understanding the impact of the Affordable Care Act alone would make them more confident in hiring again.
“The uncertainty caused by the government shutdown serves to further force small business owners to reconsider any long-term investments or hiring. On top of that, the only thing that's certain about health care reform right now is that it's causing more uncertainty,” said SurePayroll CEO and President Michael Alter. “In the meantime, small business owners are not likely to add more employees or pay their current employees more until they know exactly how the new health law will affect them.”
While optimism dropped and hiring was flat, 46 percent of small business owners surveyed said they did better in the third quarter of 2013 than the third quarter of 2012, and 30 percent said results were the same. Fifty-eight percent said they matched expectations for the quarter; 13 percent said the quarter exceeded expectations; and 29 percent said results were below expectations.
Year over year, nationwide hiring is down 1.7 percent and paychecks are down 0.1 percent. Year over year, the South is the only region where hiring is up at 1.3 percent and paychecks there are up 0.7 percent. The West shows a hiring decline of 2.5 percent, with paychecks down 0.9 percent. Hiring in the Midwest is down 3.0 percent and paychecks are positive, up 2.0 percent. In the Northeast, hiring is down 4.1 percent and paychecks are down 2.1 percent.
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 September 2004. SurePayroll's Scorecard compiles data from small businesses nationwide, and exclusively reflects the trends affecting the nation's "micro businesses" — those with an average of eight employees.
The full SurePayroll Small Business Scorecard infographic includes data for the top 35 MSAs. The September 2013 Scorecard is available now on the SurePayroll blog.
SurePayroll is the trusted provider of easy online payroll services to small businesses nationwide. Whether a business has 1, 10, or 100 employees, SurePayroll delivers peace of mind by combining innovative, industry-leading technology and personalized support from an award-winning, U.S.-based customer care team. SurePayroll also provides private-label and co-branded services for accountants and banking partners as well as offering efficient online solutions for managing 401(k) plans, health insurance, workers' compensation, employee screening and more. SurePayroll is a wholly owned subsidiary of Paychex. For more information, please visit www.SurePayroll.com. Follow us on Twitter – Circle us on Google+ – Connect with us on LinkedIn – Like us on Facebook.
Paychex, Inc. (NASDAQ:PAYX) is a leading provider of payroll, human resource, insurance, 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 570,000 payroll clients as of May 31, 2013. For more information about Paychex and our products, visit www.paychex.com.
Jennifer Signorini, 617-624-3217
Lori Bolas, 224-223-2334