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Paychex - IHS Markit Small Business Employment Watch: April Small Business Employment Growth Moderates from March; Hourly Earnings Up 2.73 Percent from a Year Ago

May 02, 2017

The Paychex | IHS Markit Small Business Employment Watch  for April shows a decline in small business jobs growth, but continued rising wages for workers. According to the report, the Small Business Jobs Index declined 0.22 percent in April to 100.50, losing gains from the first quarter of the year.  National hourly earnings in April were $25.67, increasing 2.73 percent ($0.68) year-over-year.

 

“The acceleration of job gains in the first quarter of 2017 has been short-lived, but small business expansion remains a healthy 0.50 percent above its baseline,” said James Diffley, chief regional economist at IHS Markit.

“The decline in the April index mirrors what was reported last month by BLS, which showed deceleration of job growth,” said Martin Mucci, Paychex president and CEO. “At the same time, the wage report shows continued growth in both hourly earnings and hours worked over the past year."

Read the full news release.

Lisa Fleming
Manager, Public Relations
585-387-6402

Lisa Fleming

Lisa Fleming joined Paychex in 2006 and last year was promoted to the position of public relations manager. As part of her role, Lisa leads the department’s external communications efforts and manages the company’s relationship with its outside PR agency partner, Eric Mower & Associates. Lisa is a graduate of Canisius College in Buffalo, New York where she studied English and Communications.