Small business salaries lowest since 2006: survey
NEW YORK |
NEW YORK (Reuters) - Salaries at small U.S. companies are at their lowest level since March 2006, while confidence among business owners is falling amid concerns about the cost of government health care reform, according to a monthly survey.
The survey, based on payroll data from tens of thousands of businesses by SurePayroll Inc, found salaries fell by 0.8 percent in July from June and are down more than 5 percent since the start of the year.
The average annual small-business paycheck in the United States is now $29,995, compared with $32,290 a year ago. The last time salaries dipped below $30,000 was in March 2006, SurePayroll said.
Despite signs that the economy is bottoming, business owners are less optimistic about their prospects. At the end of July, 56 percent said they were optimistic about the small-business economy, down from more than 70 percent who were optimistic in May and June.
Those surveyed cited the cost of health care reform as a major concern.
(Reporting by Nick Zieminski; Editing by Lisa Von Ahn)
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