Small businesses showed slow job growth in Texas during June. More jobs were added, but at a slower pace than in May.
According to Intuit Payroll, small business employment increased 0.02 percent in June, compared to 0.8 percent in the previous month.
“The gains in small business employment this month are not as large as last month,” said Susan Woodward, the economist who worked with Intuit to create the indexes. “However this month’s employment gains, paired with the upward revisions for the previous several months, add up to the biggest gains we have seen in small business employment since the recovery began.”
However, despite slow gains, the U.S. economy has begun to show some strength, which could lead to accelerated growth at the nation’s small businesses. Gallup’s U.S. Economic Confidence Index was at minus-6 in late June, slightly lower than the previous week’s five-year high.
As small businesses begin to grow, owners of these companies need to ensure their small business insurance portfolios are adequate, as they don’t want to run into a situation where they are forced to close their doors for good.