Small Business Employment Gains Continue, Especially in Leisure and Hospitality
Despite the competitive hiring environment, small business employment growth grew 0.26 percent in June, according to aggregated payroll data of approximately 350,000 clients provided by Paychex. The data released in the latest report of the Paychex | IHS Markit Small Business Employment Watch shows momentum in job growth with the Small Business Jobs Index gaining 4.53 percent during the second quarter of 2021 (in part driven by the 2020 comparison period). Hiring is particularly strong in the leisure and hospitality sector, which gained 12.65 percent in the past quarter. Hourly earnings growth increased slightly, from 2.82 percent in May to 2.84 percent in June.
Read the full news release on the Small Business Employment Watch site.