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Paychex-IHS Small Business Jobs Index declined to 100.38 in November
The Paychex | IHS Small Business Jobs Index moderated slightly in November, down 0.02 percent from the previous month. This marks the third consecutive decline, which saw the national index decrease from 100.70 in August to 100.38 in November. Despite this, small business employment growth levels remain consistent with the same period a year ago. Among regions, the East South Central is experiencing the strongest growth, up 3.42 percent from last year. Georgia overtook Washington as the top-ranked state for small business employment growth. Seattle maintained its lead as the top metro area, with Atlanta following as a close second. Small business jobs growth for Leisure and Hospitality increased by 0.20 percent from the previous month, while Construction declined 0.17 percent.
“At 100.38, the Paychex | IHS Small Business Jobs Index was essentially unchanged from the previous month and from November 2015, representing consistent small business job growth rates from this time a year ago,” said James Diffley, chief regional economist at IHS Markit.
“Given the election results, small business owners seemed to take a ‘wait and see’ attitude,” said Martin Mucci, Paychex president and CEO. “We’ll be watching the next few indexes closely to see what the numbers may indicate about the sentiment and outlook for small business.”
Posted: November 29, 2016 Tuesday 08:30 AM