Small business payrolls increase 30,000 in October
WASHINGTON (Reuters) - U.S. small businesses added fewer jobs in October than in the previous month and reduced working hours for employees, a survey showed on Sunday.
Intuit, a payrolls processing company, said small businesses created 30,000 jobs this month, after adding 40,000 workers in September.
The survey is based on responses from about 66,000 employers at businesses with fewer than 20 employees that use the Intuit Online Payroll system. It covered the period from September 24 to October 23.
The average work week for small business fell 0.2 percent to 24.5 hours, while the average monthly salary was little changed at $2,622.
The government will release its closely watched employment report for October on Friday. Nonfarm payrolls likely increased 95,000, according to a Reuters survey, after rising 103,000 in September.
Part of the rise in September nonfarm employment was because of the return to payrolls of 45,000 Verizon Communications workers following a strike.
(Editing by Dan Grebler)
We are living longer but not creating financial plans to keep pace. Advisers give tips on how to make sure you don’t outlive your money. Video