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Small Business Hiring Declines in March; Wage Growth Remains Steady

April 02, 2019

Computer screen showing small business employment watch

The Paychex | IHS Markit Small Business Employment Watch shows small business job growth slowed in March, while hourly earnings growth for workers remained stable 

The Paychex | IHS Markit Small Business Employment Watch showed its first job growth decrease of 2019 in March. After remaining relatively flat in January and February, the Small Business Jobs Index declined 0.15 percent to 98.78. However, despite a 0.88 percent slowdown year-over-year, the first calendar quarter of 2019 represents the strongest quarter in the past year. Hourly earnings growth moderated slightly to 2.52 percent ($0.66) in March, while annualized one-month and three-month growth rates were closer to three percent. 

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