Small Business Jobs Index Moderates in July, Following 2016 Peak in June

Following a 2016 high point in June, the Paychex | IHS Small Business Jobs Index moderated in July, down 0.12 percent from the previous month. At 100.68, the growth rate of the national index is consistent with the 2016 average and 0.04 percent higher than it was in July 2015. During the past 12 months, small business employment in the regions on the East Coast strengthened. Increasing 0.52 percent for the past three months, South Atlantic remained in the top spot among regions and is up 0.80 percent year-over-year. Washington remained the top-ranked state index at 103.63, but was unable to maintain the pace set in June, slipping 0.83 percent. At the top of the metro ranking, Seattle and Atlanta mirror their state indexes, with Seattle slowing and Atlanta gaining significantly. Employment growth slowed in eight of the nine industries in July, with Trade, Transportation and Utilities being the only industry sector to increase.

To read the full news release, visit the Paychex | IHS Small Business Jobs Index website.