Intuit launches new QuickBooks Small Business Index 

Today, Intuit launched the Intuit QuickBooks Small Business Index, a powerful monthly indicator of employment and hiring among small businesses in Canada to help inform policies that impact the small business economy. 

The Index’s unparalleled focus on small businesses shines a brighter light on the challenges faced by this community, which are often underrepresented in economic data. It serves as a single source of truth to facilitate productive dialogue among small business owners and policy makers to ensure the backbone of our economy continues to thrive.

The first monthly Index report provides fresh insights on Canadian small business employment, with critical insights from February outlined below: 

  • Small business employment decreased by 0.17% in February: Small businesses with one to 19 employees employed 8,700 fewer people nationally compared to the previous month, which is a monthly decrease of -0.17%. Despite the drop, the Index indicates that Canadian small businesses with one to 19 employees still accounted for 5,201,500 jobs – following a relatively stable employment rate over the last six months.
  • Finance and real estate experienced the largest decreases in employment: Sectors that experienced the largest decreases in employment in Canada were finance and real estate (-0.43%), construction (−0.26%) and professional services (−0.17%).
    • Alternatively, employment increased in industries including accommodation and food services (2.45%), education (1.19%) and business services (1.16%). 
  • Quebec small business employment saw the most growth: The region saw a 0.91% increase in growth to 1,070,500 jobs. Ontario saw the largest decrease, with a drop of -0.29%, to 1,917,100 jobs. 

More information about small business employment, including regional and sector data can be found in the press release and blog

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