Small businesses added 50,000 new jobs in January; however, they also paid employees less and gave them fewer hours, according to the Small Business Employment Index by Intuit Inc.

The index also reveals that small-business employment grew by 0.2 percent in January for an annual growth rate of 2.9 percent. As average monthly hours worked dropped by 0.05 percent to equal six minutes, average monthly compensation fell by 0.1 percent to $3.

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