Small-Business Hiring Gains Momentum, Paychex, Intuit Data Show
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U.S. small businesses are starting to ramp up hiring 21 months after the end of the deepest recession since the 1930s, supporting Federal Reserve Chairman Ben S. Bernanke’s confidence in a gradual labor-market recovery.
Paychex Inc., which manages payroll accounting for companies that employ fewer than 100 workers, said checks per client rose 2.8 percent from a year ago in the quarter ended Feb. 28, the biggest gain in at least two years. The data, released with the company’s fiscal third-quarter earnings yesterday, adds to other evidence showing growing confidence by small businesses, including data from Insperity Inc. and surveys by Intuit Inc. and the National Federation of Independent Business.