Pasar al contenido principal Saltar al pie de página del mapa del sitio

Small Business Employment Declines, Reflecting the Ongoing Impact of the Coronavirus Pandemic

May 08, 2020
Computer screen showing small business employment watch

The latest Paychex | IHS Markit Small Business Employment Watch shows a decrease in small business employment as the COVID-19 pandemic caused instability for employers nationwide. The jobs index declined 3.65 percent last month to 94.63, a level consistent with rates seen in 2009 during the financial crisis. Hourly earnings growth rose slightly to 2.78 percent ($0.75) year-over-year. However, one-month annualized weekly hours worked growth dropped sharply, by 8.92 percent in April, resulting in a decline in weekly earnings growth to 1.28 percent from a year ago.

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