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Wages Continue to Accelerate for Workers; Small Business Hiring Slows in May

May 31, 2022

Small Business Employment Watch May 2022

Workers at U.S. small businesses saw the 12th consecutive month of increasing hourly earnings gains, while the pace of job growth slowed in May. These insights are according to the latest Paychex | IHS Markit Small Business Employment Watch. The May report shows average hourly earnings stand at $30.31, up by 5.19 percent from a year ago. The Small Business Jobs Index, which measures the year-over-year rate of employment growth, decreased 0.27 percent from the previous month to an index level of 100.87.

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