Paychex and IHS to Launch New Economic Report Detailing State of Small Business Employment in the United States
Data from approximately 350,000 small businesses will provide a timely and accurate depiction of national, regional, and metro small business employment trends each month.
Paychex, Inc. (NASDAQ: PAYX), a leading provider of payroll, human resource, insurance, and benefits outsourcing solutions for small- to medium-sized businesses, in conjunction with IHS Inc. (NYSE: IHS), a leading global source of critical information and insight, announced today that they will launch a new index examining the state of small business employment in the U.S. on Tuesday, April 1, 2014.
The Paychex | IHS Small Business Jobs Index is a monthly, up-to-date measure of change in small business employment in the United States. The index will identify and track small business employment trends by measuring aggregated small business payroll data from the Paychex customer base, and provide timely, accurate insight into national and regional employment activity, as well as report on state and metro employment trends for many of the country's largest states and markets.
Paychex and IHS will launch the index on April 1 at the NASDAQ MarketSite in New York City by participating in The NASDAQ Stock Market Opening Bell Ceremony, followed by a roundtable event with experts from Paychex and IHS providing in-depth analysis on the state of small business employment in the U.S.
"Paychex is proud to partner with IHS to launch what we believe will be the most timely, accurate, and reliable indicator of small business employment in the United States," said Martin Mucci, president and CEO of Paychex. "With small businesses representing nearly 95 percent of all businesses in the U.S., we believe tracking the employment trends of Main Street is the best way to gauge the country's employment picture."
"Given the critical role played by small businesses in the U.S. economy, the Paychex | IHS Small Business Jobs Index provides extremely valuable insights into the employment trends among these small companies," said Nariman Behravesh, chief economist at IHS.
What you need to know about the Paychex | IHS Small Business Jobs Index:
- The index is based on up-to-date, aggregated payroll data from approximately 350,000 of Paychex's small business clients with fewer than 50 workers, a sub-set of the Paychex client base, and one of the largest sample sizes for any small business index or report in the country.
- The Paychex | IHS Small Business Jobs Index analyzes year-over-year worker count changes, trending the results to reveal movement in small business employment; an upward trend represents a strengthening job market, while a downward trend is a sign of a slowdown.
- Small businesses play a pivotal role in the U.S. economy. They account for nearly 95 percent of employers. They are a vital source of entrepreneurship and innovation. Some of the most recognized U.S. brands and most successful U.S. companies started as small businesses just a few decades ago. Understanding changes in small business employment trends provides valuable insights regarding the dynamics of the U.S. economy.
Paychex | IHS Small Business Jobs Index Launch Details
Who: Paychex and IHS
What: Launch the Paychex | IHS Small Business Jobs Index with a roundtable event featuring leaders from Paychex and IHS, including Martin Mucci, Paychex president and CEO, and Nariman Behravesh, chief economist at IHS.
When: Tuesday, April 1, 2014 from 10:30 a.m. – 11:30 a.m.
Where: The NASDAQ MarketSite, 4 Times Square, New York, NY 10036
RSVP: This event is open to accredited members of the media only. To reserve your space, please contact [email protected] Seating is limited and reservations are required.