Paychex IHS Markit Small Business Employment Watch: Job Growth Shows Slight Increase in May, Annual Wage Growth Dips

The Small Business Jobs Index grew for the first time since January, up 0.07 percent to 99.60. Job growth among small businesses is down 0.73 percent year-over-year, reflecting tightening labor markets. Hourly earnings grew $0.67 to $26.61, up 2.59 percent from last year. The pace of annual wage growth is down from its peak of 2.96 percent in June 2017.

Read the full news release on the Small Business Employment Watch.