Paychex data also shows the January one-month annualized hourly earnings growth for employees of small businesses falls to its lowest level since 2020 ROCHESTER, N.Y., Jan. 31, 2023 /PRNewswire/ — The rate of hourly wage growth for U.S. small businesses continued to decline to 4.66 percent year-over-year in January according to the latest Paychex | IHS Markit Small Business Employment Watch . Additionally, the one-month annualized earnings growth fell to 2.88 percent in January, the lowest level since December of 2020. The Small Business Jobs Index, which measures national employment growth for businesses with fewer than 50 workers, rose by 0.18 percent to 99.56. "Our small business wage data indicates that wage gains are moderating, as has been the aim of monetary policy by the Fed," said James Diffley, chief regional economist at IHS Markit. "Although small businesses have struggled in attracting and retaining employees over the past two years, the job index shows they continue to make gains in hiring with the easing of wage increases," said John Gibson , Paychex president and CEO. "The wage index also shows that employees of small businesses are increasing their hours worked to increase their earnings." In further detail, the January […]
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Invest The Invisible Impact
K&X Design and Investment Technology, LLC
Invest The Invisible Impact
