Paychex | IHS Markit Small Business Employment Watch: Small Business Employment Growth Continues to Moderate; Wages on the Rise

The latest Paychex | IHS Markit Small Business Employment Watch shows another monthly slowdown in small business jobs growth, while wages continue to rise at a steady pace. The Small Business Jobs Index dropped to 99.98 in July, 0.70 percent lower than in July 2016. An index level of 100 equates to moderate job gains, represented by the employment growth levels seen during the 2004 base year. National hourly earnings in July were $25.90, an increase of 2.94 percent ($0.74) year-over-year.

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