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Worker Hourly Earnings Growth Increases to a Record Level in August; Pace of Small Business Hiring Moderates

August 30, 2022

Paychex Small Business Employment Watch August 2022

Workers of U.S. small businesses continue to benefit from higher wages, according to the latest Paychex | IHS Markit Small Business Employment Watch. Average hourly earnings growth increased to 5.18 percent, matching a record set in May 2022. Meanwhile, the pace of job growth at small businesses moderated from the previous month, slowing -0.20 percent. The Small Business Jobs Index stands at 99.94.

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