Small business sales growth slows but wages jump

Small businesses are paying higher wages. (Image: Getty)

Thu, 28 Jul 2022

Wages small businesses pay jumped 6.8% in June from a year earlier, the largest increase since accounting software company Xero began measuring it in January 2017 – and the fifth consecutive month of growth.That helped the number of jobs to grow 4.4% in June from a year ago, up from the 3.7% annual growth in May.But the annual pace of sales growth through small businesses slowed to 3.3% in the latest month, the slowest since September 2021.“Strong wages are a good goal for small businesses to aspire to – we want to have a high...

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