Small Business Jobs Growth Shows First Significant Gain Since the Start of the Pandemic in the U.S.

The latest Paychex | IHS Markit Small Business Employment Watch shows notable increases in jobs growth in March across all four U.S. regions and nearly all states and metros analyzed in the report. The Small Business Jobs Index increased to 94.25 in March. While the index remains 4.03 percent below its March 2020 level, last month’s 0.30 percent increase has been the most significant one-month gain since 2013.

Another leading indicator of economic strength, hourly earnings, reached 2.98 percent, its fourth month of growth. Weekly earnings also increased, rising to 3.58 percent, a result of growth in weekly hours worked.

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