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Paychex-IHS Small Business Jobs Index decreased to 100.10 in June
The Paychex | IHS Markit Small Business Employment Watch for June marks four consecutive months of decline in small business job growth, but a continued increase in wages. The Small Business Jobs Index decreased 0.24 percent to 100.10 in June. The index is at its lowest level since late 2011. National hourly earnings in June were $25.82, increasing 2.88 percent ($0.72) year-over-year.
“Small business job gains have slowed, consistent with tightening labor markets. Wage gains continue at a moderate pace, up 2.88 percent from last year,” said James Diffley, chief regional economist at IHS Markit.
“Over the past month we’ve seen continued uncertainty as it relates to legislative policies that stand to impact small businesses,” said Martin Mucci, Paychex president and CEO. “The decline in this month’s index and modest growth in wages seem to reflect an unclear regulatory picture combined with a narrowing labor market.”
Posted: July 5, 2017 Wednesday 08:30 AM