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Employees of Small Businesses See Record High Hourly Earnings Growth in November; Job Growth Also Continues to Increase

November 30, 2021

Small Business Employment Watch November 2021

Wage growth reached a new high for the employees of small businesses in the U.S. in November, according to aggregated payroll data of approximately 350,000 Paychex clients with fewer than 50 employees. The data released in the latest Paychex | IHS Markit Small Business Employment Watch shows hourly earnings growth improved to 4.07 percent, the highest level since reporting began ten years ago. Small business hiring also increased for the month, with the Small Business Jobs Index up 0.27 percent in November to 100.72.  

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