Small Business Wage Growth Continues Downward Trend, While Job Growth Remains Stable
October 31, 2023
![Paychex released the its October Small Business Employment Watch numbers.](/sites/default/files/styles/medium_hq/public/image/2023-12/small-business-employment-watch-oct23.jpg?itok=T1JF4TCM)
One-month annualized hourly earnings growth hits lowest level since 2020
Rochester, N.Y. (October 31, 2023) – According to the Paychex | IHS Markit Small Business Employment Watch, job growth across the U.S. remains moderate but is growing at a slower rate than a year ago. Meanwhile, growth in hourly and weekly earnings decelerated in October, consistent with recent trends. Hourly earnings growth is below four percent (3.56%) for the fourth-straight month.
Read the full news release on the Small Business Employment Watch site.