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Paychex-IHS Small Business Jobs Index decreased to 100.85 in September
While the Paychex | IHS Small Business Jobs Index grew 0.13 percent in the past 12 months through September, the national index decreased to 100.85 with the pace of small business employment growth continuing to slow slightly. Coming off its April peak of 101.26, the index is still trending higher than any quarter prior to 2014, indicating consistent employment growth conditions persist. An increase in small business job growth drove the East South Central region into the lead among regions. Wisconsin continues to lead the state index, and Seattle claimed the top spot among metro areas.
Though still performing stronger than in 2013, the small business job market has cooled a bit in the second half of 2014. At 100.85, the Paychex | IHS Small Business Jobs Index contracted again in September, remaining below the 101 level it exceeded from January through July. Year-over-year gains continue to trend positively, 0.13 percent, as the index is higher than at any time in the second half of 2013.
For the second consecutive month, the Paychex | IHS Small Business Jobs Index is showing a mixed story for small businesses employment growth. While the growth rate has slowed in four of the past five months, the index continues to show positive year-over-year gains.
Year-over-year index growth remains positive, but declined 0.22 percent for the quarter; East South Central region takes over top index spot; Wisconsin maintains lead as the top ranked state; Seattle rises to the top among metro areas
Posted: September 30, 2014 Tuesday 08:30 AM