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U.S. Small Businesses Continue to Show Moderate Job Growth and Wage Inflation Continues to Moderate

March 05, 2024

The Paychex Small Business Employment Watch showed YoY hourly earnings for U.S. workers moderated to 3.42% in February.

Rochester, N.Y. (Mar. 5, 2024) — According to the Paychex Small Business Employment Watch, year-over-year hourly earnings growth for U.S. workers moderated to 3.42% in February, continuing a trend that began mid-2022. Small business job growth held steady from last month, with the national Small Business Jobs Index closing February at 100.67.

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

Tracy Volkmann

Tracy Volkmann

Tracy Volkmann began working at Paychex in July 2014 and currently manages public relations for the company. In this role, she is responsible leading the PR function, protecting the company's reputation, and driving positive earned media coverage for Paychex. Tracy is a graduate of St. Bonaventure University and started her career in collegiate athletic communications, having spent seven years at West Point.


Manager, Public Relations