The Paychex IHS Small Business Jobs Index saw a .19 percent gain in February, according to a monthly scheduled press release. Issued by Paychex, Inc., a leading provider of payroll, HR and benefits outsourcing solutions for small businesses, and IHS, a leading source of business analytics and expertise, the index tracks small business employment.
This recent increase comes on the heels of an increase in January, growing near the same pace recorded at the end of summer 2014.
“Small business job gains have accelerated in the New Year as the U.S. economy continues to improve,” said James Diffley, chief regional economist at IHS.
While the national index, however, has declined .31 percent year by year, the national index is trending higher, which implies improving employment conditions for small businesses in the United States.
The West North Central region maintains its status as the top-performing regional index. In the Central regions, fast paced job growth is on a continuing trend. The Pacific region is said to have had the best gains in February, and its three-month growth rate is its highest since 2012.
Though Indiana saw a .68 percent decline from January to February, it still the top-ranked state index, while Dallas posted its fifth consecutive month at the top among metro areas, according to the press release.
Texas’ index placed second, also finishing the year in second among states in total job gains. The next highest 12-month growth rate was taken by Florida, which the Bureau of Labor Statistics ranked in the top five among states in total job growth. Georgia’s February index was its highest since 2006, while Virginia and New Jersey were in the bottom five states for overall job gains in 2014.
