U.S. Small Business Employment Landscape Remains Steady
Paychex released its July Small Business Employment Watch, showing the U.S. small business jobs index held steady at 99.23, slightly above the first-half average. Weekly earnings growth rose to 3.14%, the strongest level since December 2023, supported by a 0.40% increase in weekly hours worked—the highest growth rate in over five years.
Key figures
- Customers count
- approximately 840,000
- Jobs index july
- 99.23
- Manufacturing index
- 99.34
- Jobs index h1 average
- 99.2
- Hourly earnings growth pct
- 2.86
- Weekly earnings growth pct
- 3.14
- Manufacturing 1mo change pp
- 0.35
- Weekly hours worked growth pct
- 0.4
AI analysis
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