Sign In
Upcoming Event
Free Newsletter
US small businesses remain stable in February, survey shows
US small businesses remain stable in February, survey shows
Listen to this articleSmall businesses across the U.S. reported moderate job growth in February, with wage growth below 3%, according to the Paychex Small Business Employment Watch.
The Small Business Jobs Index – a measure of employment growth in U.S. businesses with fewer than 50 employees – was 100.04, while hourly earnings growth for small business workers remained below 3% (2.92%) for the fourth-straight month.
“The consistent long-term trend we’re seeing is a small business labor market that is resilient and stable with little job movement among workers,” said John Gibson, Paychex president and CEO. “At the same time, small business owners are optimistic about future business conditions despite uncertainty about how to adapt to a rapidly evolving legislative and regulatory landscape.”
Additional data from the month watch shows:
• The Midwest remained the top region for the ninth consecutive month with a jobs index level of 100.54.
• Construction (3.29%) regained its top ranking among industries for hourly earnings growth in February, followed closely by other services (3.27%) and manufacturing (3.21%), and
• The pace of job growth in manufacturing gained 2.39 percent points to 99.52 in February, marking the industry’s largest one-month increase since April 2021.
The Paychex Small Business Employment Watch offers monthly analysis of national employment and wage trends and examines regional, state, metro and industrial sector activity.
[email protected] / (585) 653-4021
d
