Small business added another 18,000 new jobs in June, according to a monthly report from online payroll business Intuit. The gain brings the revised total of new jobs created by small business since October 2009 to 330,000, which equates to an annual growth rate of 1.10 percent.  Though employment rose, it was at a slower rate than previous months.

Dr. Susan Woodward, an economist who works with Intuit to compile and review the labor data, says that this is the time for small business to be hiring.  “At this point in recovery, the labor market is sufficiently slack so small businesses should be hiring vigorously.  They are hiring, but not as fast as in the first quarter.”

Compensation per worker again increased by 0.3 percent in June. The average worker earned to $2,577 per month, up from a revised estimate of $2,570 per month in May.

Monthly hours worked decline by 0.5 percent in this month to 103.5 hours.  This  translates to wages of about $30,900 per year for all employees and a 23.5-hour work week for hourly employees.

The Intuit Small Business Employment Index is based on aggregate and anonymous online employment data from approximately 50,000 small business employers each with fewer than 20 employees. These small businesses use Intuit Online Payroll from Intuit, which has more than 1 million customers.