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
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."
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