Intuit has released the Intuit QuickBooks Small Business Index covering September, 2023.
The index is a valuable monthly indicator of employment and hiring among the smallest of businesses within the US, Canada and the UK. The index is a collaboration between Intuit and leading global economist Professor Ufuk Akcigit of the University of Chicago.
Here’s a snapshot of some of the US components of the index.
During September 2023, US small businesses with one to nine employees created 16,000 jobs — an increase of 0.1325% over August.
The Plains was the area with the most significant growth rate at 0.23%, followed close behind by New England with a growth rate of .19%.
The Far West and Great Lakes both saw a growth increase of 0.14%, while the Southwest saw the slowest increase in growth at only 0.06%.
According to the index, small business employment grew in five sectors during September:
Agriculture, natural resources & mining (NAICS 11; 21) added 900 jobs, with a monthly growth rate of 0.5%.
Leisure and hospitality (NAICS 71 & 72) added 4,400 jobs, with a monthly growth rate of 0.28%.
Education and health services (NAICS 61 & 62) added 2,200 jobs, with a monthly growth rate of 0.09%.
Wholesale trade (NAICS 41&42) added 200 jobs, with a monthly growth rate of 0.04%.
Construction (NAICS 23) added 200 jobs, with a monthly growth rate of 0.03%.
Transportation and warehousing (NAICS 48 & 49) saw the worst decline with 300 jobs lost, and a monthly rate of decline at -0.54%.
Information (NAICS 51) saw the second worst decline, down by 1200 jobs. a -0.43% decrease (month over rate).
For more details regarding the Index, refer to the most current findings HERE.
Feature content and graphic materials were adapted from informational content within the Intuit QuickBooks Small Business Index. The adapted source content by Insightful Accountant is furnished for educational purposes only.
As used herein, QuickBooks® and the Intuit QuickBooks Small Business Index refer to one or more registered trademarks of Intuit Inc., a publicly-traded corporation headquartered in Mountain View, California.
The Intuit QuickBooks Small Business Index creates aggregated data outputs from a sample of anonymized QuickBooks Online Payroll customer records which are calibrated using statistical methods to create modeled results which better reflect the general population of small businesses in each country, as represented by published official statistics. Statistical adjustment ensures the Index truly reflects employment and job vacancy changes rather than trends in the QuickBooks customer base.
Any other trade names or references used herein may refer to registered, trademarked or copyrighted materials held by their respective owners; they are included in the content for informational and educational purposes only.
This is an editorial feature, not sponsored content. No vendor associated with this article has paid Insightful Accountant or the author any form of remuneration to be included within this feature. The article is provided solely for informational and educational purposes.
Note: Registered Trademark ® and other registration symbols (such as those used for copyrighted materials) have been eliminated from the articles within this publication for brevity due to the frequency or abundance with which they would otherwise appear or be repeated. Every attempt is made to credit such trademarks or copyrights within our respective article footnotes and disclosures.
Intuit’s Disclaimer – This content is for information purposes only and should not be considered legal, accounting or tax advice, or a substitute for obtaining such advice specific to your business. Additional information and exceptions may apply. Applicable laws may vary by region, state or locality. No assurance is given that the information is comprehensive in its coverage or that it is suitable in dealing with a customer’s particular situation. Intuit does not have any responsibility for updating or revising any information presented herein. Accordingly, the information provided should not be relied upon as a substitute for independent research. Intuit does not warrant that the material contained herein will continue to be accurate nor that it is completely free of errors when published. Readers should verify statements before relying on them.
Like what you’re reading?
Subscribe to our FREE newsletter and we’ll deliver content like this directly to your inbox.
This post originally appeared on