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Small Business Hiring Picks Up in July - Research Paper Example

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Small Business Hiring Picks Up in July Summary “Small businesses across the U.S. added 50,000 people to payrolls in July, continuing the trend of small increases in hiring that started nearly two years ago.” (Rubin, 2011) Data from Intuit, the online payroll software shows that there is an increase of 0.2% from June 24 to July 23…
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Download file to see previous pages There is a 0.7% increase on the hours worked by the employees. As per the report, the increase in the work hours is a clear indication of the amount of work in these businesses. An increased hiring rate coupled by increased pay rate is a matter of competition for the employees. Subject of Agreement The report is based on the trends of the companies that have always had more than 20 employees and that use Intuit’s online payroll software. There are some other reports and survey that gives contrasting information compared to this. Chamber of Commerce conducted a survey in July which shows that more than half of the business owners surveyed have said that they won’t be hiring in 2011. (Lopez, 2011) The business owners pointed out reasons like economic uncertainty, poor sales and lack of credit availability as the reasons for not hiring. The fact that Intuit report is based on data from few small businesses and there are contrasting data available from other reports reduces the reliability if Intuit Report. Moreover, the report is based on the data from June 23 to July 24, the trend which is not assured to sustain in the coming months. The recent happenings in the market are also showing that the economy is going through a very critical situation. Some people have also started speaking about double dip recession though the possibility of the same is highly unlikely as per the experts. Also, most SME’s business is depended on the business performance of large scale corporations. Most SME’s in the country’s customers are the large scale corporations though a good portion of them markets products for the end consumers. But the overall US unemployment data shows that the unemployment rate came down to a level of 9.1%. (Tradingeconomics.com, 2011) The increase in the employment rate came from the private sector which added 154,000 jobs. The fact that private sector contributed to the employment and more that 85% of the SME’s are private sector companies support the view of Intuit report. Therefore, I agree with the findings of the report that Small Business Hiring is increasing. Scope for a Different Presentation There was scope for presentation of the subject in a different context. With the available data, the report shouldn’t have concluded that it applies to the entire small business sector of the country. A person who reads only the Intuit report without a wider look into the results of other related information will be biased to believe that small business hiring is always picking up. This can just lead to wrong business or investment decisions. Instead of concluding that the small business hiring is increasing, it should just have said that there is an improvement in certain small business segment. It should just indicate that there is an indication that business at SME’s are catching up. The main reason is that Intuit report had very limited information to support its findings. Presenting the report as a reference material for arriving at the overall unemployment data would have been better. The Intuit report is definitely a good source of information for conducting an unemployment statistics study. But with the data it relied on, the report cannot act as a finding in itself. The author made the report as a conclusion for the entire small business sector. But the fact that the data was related to only few small businesses ...Download file to see next pagesRead More
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