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Paychex-IHS Small Business Jobs Index decreased slightly to 100.44 in September
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The Paychex | IHS Small Business Jobs Index decreased slightly in September, moving from 100.48 to 100.44. After increasing the first quarter of 2015, the pace of employment growth has moderated during the second and third quarters of 2015. The Mountain region was the top-performing regional index. Texas surpassed Washington and Georgia to lead among states tracked by the index, while Dallas continues as the top-ranked metro area for the twelfth straight month. Other Services (except Public Administration)*, as defined by the Bureau of Labor Statistics, ranks as the top industry sector for small business employment growth at 103.95.
Beginning today, the Small Business Jobs Index has expanded to include reporting on eight major industry sectors. In addition, the index for each region, state, metro, and industry is now being reported using a national baseline, which allows users to better compare employment activity on a relative basis across all categories. Details of the updated methodology can be found in the "Understanding the Index" section of the Small Business Jobs Index website.
"The index continues to show positive employment growth versus the base year, and now we can measure that growth across eight industry sectors," said Martin Mucci, president and CEO of Paychex. "This additional data provides even greater insight and perspective on the small business employment trends that are critical to understanding the health of the U.S. economy."
"The Paychex | IHS Small Business Jobs Index fell slightly from August to September as employment growth conditions remained stable," said James Diffley, chief regional economist at IHS. "At 100.44 in September, the national index stands at its lowest level since the end of 2011, yet small business job gains proceed at a pace 0.44 percent faster than during the base year in 2004."
Posted: September 29, 2015 Tuesday 08:30 AM