Paychex - IHS Markit Small Business Employment Watch: Small Business Employment Growth Remains Level; Wages Continue to Gain Momentum

The Paychex | IHS Markit Small Business Employment Watch shows a slowdown in small business job growth for the sixth consecutive month in August, while hourly earnings continue to gain momentum. The Small Business Jobs Index stands at 99.96, but the monthly decline in August was minimal at only 0.02 percent. Small business wages continue to rise, reaching a 3.00 percent ($0.76) annual growth rate in August and a 3.27 percent three-month annualized growth rate. National hourly earnings in August were $25.98, an $0.07 increase from July.

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