Wage Growth for Workers of U.S. Small Businesses Continues Downward Trend; Job Growth Remains Stable

Rochester, N.Y. (Dec. 5, 2023) — 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 growth seen at the start of 2023.

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