U.S. Small Business Employment Rate Remains Steady in September
Rochester, N.Y. (September 29, 2026) – According to the Paychex Small Business Employment Watch, which reports on employment levels in U.S. small businesses with fewer than 50 employees, the pace of job growth increased 0.02 percentage points to 99.15 in September. The jobs index remained broadly in line with the 2026 year-to-date average of 99.19. Hourly earnings growth remained below three percent in September (2.78%), extending a more than two-year trend of moderating wage growth. At the same time, weekly earnings and hours worked growth remained positive, indicating businesses continue to meet demand through existing workforce capacity.
Read the full news release on the Small Business Employment Watch site.