Research >> Economics
Paychex-IHS Small Business Jobs Index remained steady at 100.70 in August
|
The Paychex | IHS Small Business Jobs Index remained steady in August, up modestly, 0.02 percent, from the previous month. At 100.70, the national index is up 0.22 percent from a year ago. Mountain reclaimed its lead among regions, pushing South Atlantic to the second-ranked spot. Washington continued as the top-ranked state index at 104.30, while California is down 0.82 percent from a year ago and nearing a five-year low. Seattle increased its lead among metros with the strongest one-month gain at 0.92 percent. There was little movement among industries in August, yet Manufacturing continues to struggle, down 0.85 percent from a year ago.
“The Paychex | IHS Small Business Jobs Index has plateaued this year, albeit at a solid pace of employment gains,” said James Diffley, chief regional economist at IHS Markit. “At 100.70, the August index moved up just 0.02 percent from July and is off 0.01 percent from the 2016 average of 100.71.”
“The August index reflects a year-to-date trend of steady employment growth” said Martin Mucci, president and CEO of Paychex. “Additionally, the growth appears to be wide-spread, with all nine regions above the national baseline of 100.”
Posted: August 30, 2016 Tuesday 08:30 AM