Paychex - IHS Markit Small Business Employment Watch: Monthly Growth Rates for Small Business Employment and Wages Decline Slightly in November

The Paychex | IHS Markit Small Business Employment Watch shows a modest decline in both small business job and wage growth for November. The Small Business Jobs Index decreased 0.03 percent for the month, 0.10 for the quarter, and 0.52 percent for the year to 99.86. The national index has now been below 100 for five consecutive months. Monthly small business wage growth has slowed since reaching a high of nearly three percent in August. Hourly earnings in November stand at $26.09, a gain of 2.77 percent ($0.70) year-over year.

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