Small Business Jobs Index Indicates Ongoing Employment Growth Despite May Decline
The Paychex | IHS Small Business Jobs Index declined 0.18 percent in May, from 100.77 to 100.59, following steady results in March and April. Altogether, however, the pace of small business employment growth has increased 0.22 percent since the start of 2016. At 101.72, East South Central jumped to the top spot among regions, gaining 0.40 percent, the best one-month growth rate. Washington remained the top-ranked state index, with its fifth consecutive increase in 2016. Continuing to hold the top spot among metro areas, Seattle’s index increased for the fifth straight month, hitting a record level in May, 104.97. After holding steady in April, small business growth slowed in every industry sector analyzed in May.
To read the full news release, visit the Paychex | IHS Small Business Jobs Index website.