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Category: Research - Topic: Economics - PAYCHEX-IHS SMALL JOBS


Paychex-IHS Markit Small Business Jobs Index up to 101.21 in December 2023
Posted: January 3, 2024 at 08:30 AM (Wednesday)

U.S. small businesses experienced job growth for all of 2023 and extended a cycle of consistent job growth for 33-straight months, according to December data from the Paychex Small Business Employment Watch. The Small Business Jobs Index closed the year at 101.21 (1.2% growth), while hourly earnings growth for U.S. workers in December (3.48%) ...


Paychex-IHS Markit Small Business Jobs Index declined to 98.59 in November 2023
Posted: December 5, 2023 at 08:30 AM (Tuesday)

The rate of hourly earnings growth for workers at U.S. small businesses has slowed 17 of the past 18 months to 3.48% in November, falling below 3.50% for the first time since July 2021, according to the Paychex Small Business Employment Watch. Hiring at small businesses across the U.S. remains stable but continues to slow from the rate of ...


Paychex-IHS Markit Small Business Jobs Index declined to 98.77 in October 2023
Posted: October 31, 2023 at 08:30 AM (Tuesday)

According to the Paychex | IHS Markit Small Business Employment Watch, job growth across the U.S. remains moderate but is growing at a slower rate than a year ago. Meanwhile, growth in hourly and weekly earnings decelerated in October, consistent with recent trends. Hourly earnings growth is below four percent (3.56%) for the ...


Paychex-IHS Markit Small Business Jobs Index declined to 98.89 in September 2023
Posted: October 3, 2023 at 08:30 AM (Tuesday)

According to the Paychex | IHS Markit Small Business Employment Watch, hourly earnings growth has slowed to 3.79% in September 2023, a pace not seen since September 2021 (3.77%). The Small Business Jobs Index — which measures the rate of small business job growth in the U.S. — shows 98.89 in September, a -0.21% change ...


Paychex-IHS Markit Small Business Jobs Index is essentially flat to 99.10 in August 2023
Posted: August 29, 2023 at 08:30 AM (Tuesday)

According to the Paychex | IHS Markit Small Business Employment Watch, the national Small Business Jobs Index — which measures the rate of small business job growth in the U.S. — is essentially flat at 99.10, a decrease of 0.04% in August. Meanwhile, an hourly earnings growth rate of 3.98% among U.S. small businesses is unchanged in August ...


Paychex-IHS Markit Small Business Jobs Index declined slightly to 99.14 in July 2023
Posted: August 1, 2023 at 08:30 AM (Tuesday)

According to the Paychex | IHS Markit Small Business Employment Watch, hourly earnings growth (3.95%) has dipped below four percent for the first time since 2021, and one-month annualized growth in hourly earnings remains below four percent for the fourth consecutive month. Small business job growth is essentially unchanged in July from ...


Paychex-IHS Markit Small Business Jobs Index declined slightly to 99.49 in April 2023
Posted: May 2, 2023 at 08:30 AM (Tuesday)

Small business hourly earnings growth over the past 12 months declined again in April to 4.52 percent according to the Paychex | IHS Markit Small Business Employment Watch. After increasing every month in 2023, the Small Business Jobs Index, which measures the change in national employment growth for businesses with less than 50 ...


Paychex-IHS Markit Small Business Jobs Index increased modestly to 99.73 in March 2023
Posted: April 4, 2023 at 08:30 AM (Tuesday)

Small business employment has grown consistently during the first quarter of 2023, according to the Paychex | IHS Markit Small Business Employment Watch. The Small Business Jobs Index, which measures employment growth, increased modestly (0.06%) from the previous month to 99.73. The March report also showed average hourly earnings ...


Paychex-IHS Markit Small Business Jobs Index increased to 99.66 in February 2023
Posted: March 7, 2023 at 08:30 AM (Tuesday)

The rate of hiring for U.S. small businesses increased in February led by hiring in the leisure and hospitality industry according to the latest Paychex | IHS Markit Small Business Employment Watch. The Small Business Jobs Index, which measures national employment growth for businesses with fewer than 50 workers, continued to increase to ...


Paychex-IHS Markit Small Business Jobs Index rose to 99.56 in January 2023
Posted: January 31, 2023 at 08:30 AM (Tuesday)

The rate of hourly wage growth for U.S. small businesses continued to decline to 4.66 percent year-over-year in January according to the latest Paychex | IHS Markit Small Business Employment Watch. Additionally, the one-month annualized earnings growth fell to 2.88 percent in January, the lowest level since December of 2020. The Small ...


Paychex-IHS Markit Small Business Jobs Index was unchanged at 99.38 in December 2022
Posted: January 3, 2023 at 08:30 AM (Tuesday)

The rate of hourly wage growth for U.S. small businesses continued to decline to 4.95 percent year-over-year in December, according to the latest Paychex | IHS Markit Small Business Employment Watch. Additionally, the Small Business Jobs Index which measures national employment growth for businesses with fewer than 50 workers remained ...


Paychex-IHS Markit Small Business Jobs Index moderated slightly to 99.38 in November 2022
Posted: November 29, 2022 at 08:30 AM (Tuesday)

The rate of job growth and hourly earnings growth held relatively steady at U.S. small businesses in November, according to the latest Paychex | IHS Markit Small Business Employment Watch. The Small Business Jobs Index moderated slightly -0.05 percent from the previous month and stands at 99.38. At 5.04 percent, the pace of hourly earnings ...


Paychex-IHS Markit Small Business Jobs Index slowed to 99.43 in October 2022
Posted: November 1, 2022 at 08:30 AM (Tuesday)

The pace of hourly earnings growth for U.S. small business workers moderated for the second consecutive month to 5.01 percent, according to the latest Paychex | IHS Markit Small Business Employment Watch. One-month annualized hourly earnings growth stands below four percent. The Small Business Jobs Index, which measures the rate of small ...


Paychex-IHS Markit Small Business Jobs Index slowed slightly to 99.75 in September 2022
Posted: October 4, 2022 at 08:30 AM (Tuesday)

Hourly earnings growth for workers of U.S. small businesses slowed in September, according to the latest Paychex | IHS Markit Small Business Employment Watch. Hourly earnings growth stood at 4.98 percent in September, falling below 5 percent for the first time since April. The Small Business Job Index, which measures the rate of small business ...


Paychex-IHS Markit Small Business Jobs Index slowed to 99.94 in August 2022
Posted: August 30, 2022 at 08:30 AM (Tuesday)

Worker Hourly Earnings Growth Increases to a Record Level in August; Pace of Small Business Hiring Moderates. Workers of U.S. small businesses continue to benefit from higher wages, according to the latest Paychex | IHS Markit Small Business Employment Watch. Average hourly earnings growth increased to 5.18 percent, matching a record set in ...


Paychex-IHS Markit Small Business Jobs Index slowed to 100.14 in July 2022
Posted: August 2, 2022 at 08:30 AM (Tuesday)

Hiring at U.S. small businesses slowed for the fifth consecutive month, according to the latest Paychex | IHS Markit Small Business Employment Watch. The Small Business Jobs Index moderated -0.66 percent from the previous month and stands at 100.14. The pace of wage increases slowed slightly from the previous month, with average hourly ...


Paychex-IHS Markit Small Business Jobs Index Moderate Slightly 100.81 in June 2022
Posted: July 5, 2022 at 08:30 AM (Tuesday)

Small businesses continued to add jobs in June and worker wages continued to grow at a strong rate, but the pace of growth moderated slightly from the previous month. These insights are according to the latest Paychex | IHS Markit Small Business Employment Watch. The Small Business Jobs Index for June was 100.81, up 2.32 percent from over a ...


Paychex-IHS Markit Small Business Jobs Index slightly lower 101.14 in May 2022
Posted: May 31, 2022 at 08:30 AM (Tuesday)

Workers at U.S. small businesses saw the 12th consecutive month of increasing hourly earnings gains, while the pace of job growth slowed in May. These insights are according to the latest Paychex | IHS Markit Small Business Employment Watch. The May report shows average hourly earnings stand at $30.31, up by 5.19 percent from a year ago. The ...


Paychex-IHS Markit Small Business Jobs Index slightly lower 101.14 in April 2022
Posted: May 3, 2022 at 08:30 AM (Tuesday)

Hourly earnings growth accelerated for the eleventh consecutive month for workers of U.S. small businesses, according to the latest Paychex | IHS Markit Small Business Employment Watch. National small business job growth also remained strong, despite a slight moderation of 0.14 percent. The national jobs index for April was 101.14, an increase ...


Paychex-IHS Markit Small Business Jobs Index little changed 101.29 in March 2022
Posted: March 29, 2022 at 08:30 AM (Tuesday)

Hourly earnings growth continued to advance for the tenth consecutive month for workers of U.S. small businesses, according to the latest Paychex | IHS Markit Small Business Employment Watch. The report also showed that national small business job growth remained near its recent record high, moderating 0.03 percent in March. The national ...


Paychex-IHS Markit Small Business Jobs Index little changed 101.33 in February 2022
Posted: March 1, 2022 at 08:30 AM (Tuesday)

National small business job growth remained at consistent levels in February and hourly earnings growth continued to increase for workers, according to the latest Paychex | IHS Markit Small Business Employment Watch. The national jobs index was unchanged for the month at 101.33, matching the record level set in January and increasing 7.83 ...


Paychex-IHS Markit Small Business Jobs Index increased to 100.94 in January 2022
Posted: February 1, 2022 at 08:30 AM (Tuesday)

National small business job growth continued to increase in January as did earnings for workers, according to the Paychex | IHS Markit Small Business Employment Watch. The January data shows the Small Business Jobs Index, which measures the year-over-year rate of employment growth, gained 0.39 percent in January. At 101.33, the national index ...


Paychex-IHS Small Business Jobs Index increased to 100.94 in December 2021
Posted: January 5, 2022 at 08:30 AM (Wednesday)

Workers saw record hourly earnings growth and employment levels continued to rise as 2021 drew to a close. This is according to the aggregated payroll data of approximately 350,000 Paychex clients with fewer than 50 employees, released monthly in the Paychex | IHS Markit Small Business Employment Watch. The December data shows hourly ...


Paychex-IHS Small Business Jobs Index increased to 100.72 in November 2021
Posted: November 30, 2021 at 08:30 AM (Tuesday)

Wage growth reached a new high for the employees of small businesses in the U.S. in November, according to aggregated payroll data of approximately 350,000 Paychex clients with fewer than 50 employees. The data released in the latest Paychex | IHS Markit Small Business Employment Watch shows hourly earnings growth improved to 4.07 percent, ...


Paychex-IHS Small Business Jobs Index increased to 100.45 in October 2021
Posted: November 2, 2021 at 08:30 AM (Tuesday)

National job growth was on the rise for the fifth consecutive month in October and wages are increasing dramatically too, according to aggregated payroll data of approximately 350,000 clients provided by Paychex. The data released in the latest report of the Paychex | IHS Markit Small Business Employment Watch shows the Small Business Jobs ...


Paychex-IHS Small Business Jobs Index rose to 99.95 in September 2021
Posted: October 5, 2021 at 08:30 AM (Tuesday)

Employment picture continues to improve for small business, but rates of growth have slowed. National job growth continued to tick upward in September, according to aggregated payroll data of approximately 350,000 clients provided by Paychex. The data released in the latest report of the Paychex | IHS Markit Small Business Employment Watch ...


Paychex-IHS Small Business Jobs Index rose to 99.80 in August 2021
Posted: August 31, 2021 at 08:30 AM (Tuesday)

National job growth continued to rise significantly in August, according to aggregated payroll data of approximately 350,000 clients provided by Paychex. The data released in the latest report of the Paychex | IHS Markit Small Business Employment Watch shows the Small Business Jobs Index gained 0.45 percent in August. At 99.80, the national ...


Paychex-IHS Small Business Jobs Index jumped to 99.36 in July 2021
Posted: August 3, 2021 at 08:30 AM (Tuesday)

National job growth in July was up notably across all industry sectors and regions over the previous month, according to aggregated payroll data of approximately 350,000 clients provided by Paychex. The data released in the latest report of the Paychex | IHS Markit Small Business Employment Watch shows the Small Business Jobs Index jumped ...


Paychex-IHS Small Business Jobs Index grew to 98.52 in June 2021
Posted: June 29, 2021 at 08:30 AM (Tuesday)

Despite the competitive hiring environment, small business employment growth grew 0.26 percent in June, according to aggregated payroll data of approximately 350,000 clients provided by Paychex. The data released in the latest report of the Paychex | IHS Markit Small Business Employment Watch shows momentum in job growth with the Small ...


Paychex-IHS Small Business Jobs Index moderated slightly to 98.27 in May 2021
Posted: June 1, 2021 at 08:30 AM (Tuesday)

The rate of job growth was largely unchanged in May, according to aggregated payroll data of approximately 350,000 clients provided by Paychex. The data released in the May report of the Paychex | IHS Markit Small Business Employment Watch shows the Small Business Jobs Index moderated slightly, slowing 0.07 percent month over month. Hourly ...


Paychex-IHS Small Business Jobs Index increased to 98.34 in April 2021
Posted: May 4, 2021 at 08:30 AM (Tuesday)

The Paychex | IHS Markit Small Business Employment Watch, compiled from aggregated payroll data of approximately 350,000 clients on the Paychex human capital management (HCM) suite, is out with the latest numbers. The Small Business Jobs Index increased 4.33 percent from March to 98.34 in April, a positive indicator of job growth returning ...


Paychex-IHS Small Business Jobs Index increased to 94.25 in March
Posted: March 30, 2021 at 08:30 AM (Tuesday)

The latest Paychex | IHS Markit Business Employment Watch shows notable increases in jobs growth in March across all four U.S. regions and nearly all states and metros analyzed in the report. The Small Business Jobs Index increased to 94.25 in March. While the index remains 4.03 percent below its March 2020 level, last month’s 0.30 ...


Paychex-IHS Small Business Jobs Index moderated to 93.97 in February
Posted: March 2, 2021 at 08:30 AM (Tuesday)

The latest Paychex | IHS Markit Business Employment Watch shows that small business hiring held mostly steady in February. The Small Business Jobs Index moderated -0.03 percent to 93.97. Wages are trending in a positive direction to begin 2021. Both hourly earnings and weekly hours worked had two consecutive months of growth. Hourly ...


Paychex-IHS Small Business Jobs Index shows a slowing to 94.06 in December
Posted: January 8, 2021 at 08:30 AM (Friday)

The latest Paychex | IHS Markit Small Business Employment Watch benchmark report reveals the effect of increasing COVID-19 cases on small businesses in the U.S. The Jobs Index shows a slowing of 0.24 percent in December to 94.06, a decrease of 4.18 percent from the year prior. A decline in weekly hours worked and hourly earnings ...


Paychex-IHS Small Business Jobs Index declined slightly to 94.29 in November
Posted: December 1, 2020 at 08:30 AM (Tuesday)

The latest Paychex | IHS Markit Small Business Employment Watch shows that small business hiring remained largely consistent with the prior month, moderating slightly, down 0.03 percent nationally to 94.29. In November, hourly earnings growth stood at 2.76 percent, while weekly hours worked showed a decrease of 0.04 percent year ...


Paychex-IHS Small Business Jobs Index declined to 94.32 in October
Posted: November 3, 2020 at 08:30 AM (Tuesday)

The latest Paychex | IHS Markit Small Business Employment Watch shows a moderation in small business hiring from the previous month, declining 0.13 percent nationally to 94.32. Hourly earnings growth stood at 2.88 percent in October, while weekly hours worked remained positive, up 0.38 percent from ...


Paychex-IHS Small Business Jobs Index increased slightly to 94.44 in September
Posted: September 29, 2020 at 08:30 AM (Tuesday)

The latest Paychex | IHS Markit Small Business Employment Watch shows a in hiring from the previous month, rising 0.06 percent nationally and 0.36 percent in the Northeast. The national jobs index stands at 94.44, remaining in line with April’s reading of 94.63. Small business wage growth slowed to 3.14 percent in September, while growth in ...


Paychex-IHS Small Business Jobs Index moderated to 94.39 in August
Posted: September 1, 2020 at 08:30 AM (Tuesday)

The latest Paychex | IHS Markit Small Business Employment Watch shows that despite hiring remaining flat since its drop-off in April, employees of small business are seeing the benefits of solid wage growth. Hourly earnings growth was steady at 3.28 percent in August and weekly earnings continue to improve as the number of hours worked ...


Paychex-IHS Small Business Jobs Index slipped to 94.59 in July
Posted: August 4, 2020 at 08:30 AM (Tuesday)

The latest Paychex | IHS Markit Small Business Employment Watch shows that employment growth moderated as new COVID-19 hot spots emerged in the South and West regions of the U.S. The national jobs index slipped 0.24 percent in July to 94.59. Hourly earnings growth also slowed slightly to 3.29 percent last month, but increasing hours ...


Paychex-IHS Small Business Jobs Index held steady to 94.81 in June
Posted: June 30, 2020 at 08:30 AM (Tuesday)

The latest Paychex | IHS Markit Small Business Employment Watch shows that employment growth held steady in June, with the jobs index moderating just 0.06 percent to 94.81. However, increases in weekly earnings signify an upward trend as more business reopened their doors, and employees resumed work. As such, annualized one-month growth in ...


Paychex-IHS Small Business Jobs Index improved slightly to 94.63 in May
Posted: June 2, 2020 at 08:30 AM (Tuesday)

The latest Paychex | IHS Markit Small Business Employment Watch shows that employment growth improved slightly in May, up 0.25 percent, as stay-at-home orders eased in most states. Amid the economic impacts of the COVID-19 pandemic, the jobs index has fallen 3.95 percent year-over-year, most of which (3.52 percent) occurred in the past ...


Paychex-IHS Small Business Jobs Index declined to 94.63 in April
Posted: May 8, 2020 at 08:30 AM (Friday)

Small Business Employment Declines, Reflecting the Ongoing Impact of the Coronavirus Pandemic. The latest Paychex | IHS Markit Small Business Employment Watch shows a decrease in small business employment as the COVID-19 pandemic caused instability for employers nationwide. The jobs index declined 3.65 percent last month to 94.63, a ...


Paychex-IHS Small Business Jobs Index slowed to 98.21 in March
Posted: March 31, 2020 at 08:30 AM (Tuesday)

Paychex | IHS Markit Small Business Hiring and Wage Growth Slow as Impacts of the Coronavirus Pandemic Begin to Take Effect. Employment growth had remained relatively stable for ten months prior to impact of COVID-19 accelerating in March.

The latest Paychex | IHS Markit Small Business Employment Watch shows a slight decrease in both small business employment and wage growth in March. The report is based on data through March 19, a time when many businesses began to modify operations as a result of the ...


Paychex-IHS Small Business Jobs Index up to 98.32 in February
Posted: March 3, 2020 at 08:30 AM (Tuesday)

The Paychex | IHS Markit Small Business Employment Watch shows another monthly increase for small business job growth, while hourly earnings growth slowed in February

The latest Paychex | IHS Markit Small Business Employment Watch shows an upturn in the pace of small business job growth for the third straight month, a trend last seen in early 2017. Though down 0.61 percent from last year, employment growth increased 0.15 percent from the ...


Paychex-IHS Small Business Jobs Index up to 98.18 in January
Posted: February 4, 2020 at 08:30 AM (Tuesday)

The Paychex | IHS Markit Small Business Employment Watch shows renewed stability in employment growth and continuous increases in weekly earnings growth over the past quarter.

The latest Paychex | IHS Markit Small Business Employment Watch reflects a continuation of the tight labor market to start 2020. Weekly earnings growth improved for the 13th consecutive month, reaching 3.59 percent in January. Weekly hours worked were up 0.83 percent from ...


Paychex-IHS Small Business Jobs Index up to 98.16 in December
Posted: December 31, 2019 at 08:30 AM (Tuesday)

Weekly Earnings Growth Ends the Year at All-Time High. The Paychex | IHS Markit Small Business Employment Watch shows accelerating wage growth amid tight labor market. The competitive job market continues to drive wage growth higher, according to the latest Paychex | IHS Markit Small Business Employment Watch. Steady growth in hourly earnings ...


Paychex-IHS Small Business Jobs Index flat to 98.11 in November
Posted: December 3, 2019 at 08:30 AM (Tuesday)

Small Business Wage Growth Hits New High, Job Growth Consistent in November. The Paychex | IHS Markit Small Business Employment Watch shows hourly earnings growth at its highest level since 2011. The tight labor market continues to positively impact wage growth, according to the latest Paychex | IHS Markit Small Business Employment Watch. ...


Paychex-IHS Small Business Jobs Index dipped to 98.14 in October
Posted: October 29, 2019 at 08:30 AM (Tuesday)

Small Business Wage Growth Gains Momentum, Job Growth Holds Steady in October. Paychex | IHS Markit Small Business Employment Watch shows small business hourly earnings growth hit 3.00 percent in October. The tight labor market positively impacted wage growth in October, according to the latest Paychex | IHS Markit Small Business Employment ...


Paychex-IHS Small Business Jobs Index increased to 98.22 in September
Posted: October 1, 2019 at 08:30 AM (Tuesday)

Job growth increased in September, as did hourly and weekly earnings growth, according to the latest Paychex | IHS Markit Small Business Employment Watch. At 98.22, the national jobs index experienced its largest gain in three years (0.21 percent), breaking with recent trends; however, the index remains down 0.97 percent year-over-year. ...


Paychex-IHS Small Business Jobs Index declined to 98.01 in August
Posted: September 3, 2019 at 08:30 AM (Tuesday)

The Paychex | IHS Markit Small Business Employment Watch shows job growth declined again in August while wage growth stabilized. At 98.01, the national jobs index fell 0.17 percent from last month and 0.76 percent over the past quarter, contributing to a 1.22 percent year-over-year drop in the rate of small business job growth. Hourly ...



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