August Job Growth Among Small Businesses Unchanged from July

August 29, 2023

Demonstrating moderate small business job growth, the national index has stayed between 99 and 100 for the past year.

Hourly earnings growth is below four percent for the second-straight month

According to the Paychex | IHS Markit Small Business Employment Watch, the national Small Business Jobs Index — which measures the rate of small business job growth in the U.S. — is essentially flat at 99.10, a decrease of 0.04% in August. Meanwhile, an hourly earnings growth rate of 3.98% among U.S. small businesses is unchanged in August from July and below four percent for the second consecutive month.

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