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Paychex IHS Small Business Jobs Index Shows Positive August Growth

According to the Paychex/IHS Small Business Jobs Index, employment across small business this month is up .02 percent from July, capping a three month national trend from June-August that saw employment rise .11 percent.

Each month, the IHS/ Small Business Jobs Index measures change in small business employment.  By analyzing data from the Paychex client base, which includes over 350,000 small businesses, the index effectively tracks and studies shifts in small business employment.

When compared with data from last August, employment is up .22 percent over the previous 12 months, as employment conditions have improved nationwide. Led by the Mountain region at 101.95, all nine regions defined by the index are above the base line of 100 this month, marking the first time this has happened since the start of 2016. In addition to being the top ranked metro area with an index of 104.3, Seattle also enjoyed the largest increase in employment over the past month, up .92 percent

 Washington, at 104.3, is the top ranked state index this month, while Illinois had the biggest one month gain among states at .90 percent. The leading industry this month, which also showed the largest increase in employment over the past month, is financial activities.  The East South Central region experienced the largest one month gain in employment among regions, up .49 percent from last month.

Paychex, the world leader in cohesive human capital management solutions, utilizes innovative technology to facilitate the growth of small businesses. IHS is a leading provider in next-generation analytics and analysis to business customers.