Small Business Employees Returning to Work – But with Fewer Hours and Lower Pay

Why is that happening? Will it change?

For the second straight month, small businesses are bringing on more staff – but at reduced pay and fewer hours,” she added. “This new data comes as many small businesses find themselves running low on relief funds – or stretching them as far as they can to make ends meet.”

Back to work, but less money: The number of salaried workers that have had a wage cut of 10% or more increased by 80%. Hour and pay rate reductions were 33 and 27%, respectively. Furloughs accounted for 25% of reduced wages.

More employees are quitting: In June 3.4% of employees left their companies voluntarily. 

This was a 32% increase from May.