Reuters: Small Business News: Small businesses hire fewer workers in May

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Small businesses hire fewer workers in May May 30th 2012, 09:04 Tweet Share this Email Print Related News U.S. jobs growth seen picking up in May Tue, May 29 2012 Jobless claims steady, mid-Atlantic factories sag Thu, May 17 2012 Consumer sentiment at 4-year high in early May Fri, May 11 2012 UPDATE 4-Canada's huge job gains stir rate hike talk Fri, May 11 2012 Drop in jobless claims eases labor market fears Thu, May 10 2012 Analysis & Opinion Chart of the day: Do IPOs create jobs? For growth, focus first on jobs A job seeker (C) checks her mobile phone during the Coast to Coast job fair in New York May 7, 2012. Credit: Reuters/Eduardo Munoz WASHINGTON | Wed May 30, 2012 5:04am EDT WASHINGTON (Reuters) - Small businesses hired fewer workers in May and cut hours for those on their payrolls, an independent survey showed on Wednesday, raising prospects of another disappointing employment report. Businesses added 40,000 new jobs, after increasing payrolls by an upwardly revised 60,000 jobs in April, according to Intuit, a payrolls processing firm. April's job count was previously reported as 40,000. The survey's findings contradict expectations of a pick-up in job gains in the broader economy this month as the weather-related distortions that held back employment growth in March and April dissipate. The government's closely monitored employment report due on Friday is expected to show that payrolls rose 150,000 in May, according to a Reuters' survey, increasing from April's meager 115,000 jobs. The unemployment rate is seen steady at 8.1 percent. The Intuit survey showed the average workweek for small business employees slipped 0.13 percent in April, leading to a 0.13 percent or $4 decline in the average monthly pay to $2,692. But that is equivalent to an annual salary of $32,300, meaning that many of the small business employees are working part-time. The Intuit survey is based on responses from about 78,000 small businesses with fewer than 20 employees that use the Intuit Online Payroll system. It covered the period from April 23 to May 23. (Reporting by Lucia Mutikani; Editing by Leslie Gevirtz) Tweet this Link this Share this Digg this Email Reprints We welcome comments that advance the story through relevant opinion, anecdotes, links and data. If you see a comment that you believe is irrelevant or inappropriate, you can flag it to our editors by using the report abuse links. Views expressed in the comments do not represent those of Reuters. For more information on our comment policy, see http://blogs.reuters.com/fulldisclosure/2010/09/27/toward-a-more-thoughtful-conversation-on-stories/ Comments (0) Be the first to comment on reuters.com. Add yours using the box above.

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