As part of Intuit's recently release Economic and Small Business Job Data for 2023Q4, U.S. small businesses with 1 to 9 employees employed 13,281,000 people nationally from October to December of 2023.
Source: Intuit QuickBooks Small Business Index
Additional findings from the report include:
- Q4 had 14,000 fewer jobs than the previous quarter, translating to a 0.11% reduction compared to Q3.
- Despite the negative quarterly growth, yearly growth in Q4 remains positive at 1.56%, thanks to strong growth in the summer of 2023.
- The Index points to a mixed quarter for small business employment, with key sectors such as leisure, hospitality, retail not performing as well as expected during the holiday peak season, while education and health services fared better.
- The strongest small business employment expansion, both on quarterly and yearly scales, occurred in the agriculture, natural resources, and mining sector.
Source: Intuit QuickBooks Small Business Index
For more information about the Quarterly Data see the official announcement here. For more information about the December, 2023 small business index results, see this official Intuit website.
This data was released as a part of Intuit QuickBooks Small Business Index, a monthly indicator of employment and hiring among small businesses in the US, Canada, and the UK developed in collaboration with leading global economist Professor Ufuk Akcigit of the University of Chicago.