Small business employment growth driven largely by recovery in the leisure and hospitality sector
ROCHESTER, N.Y., Aug. 31, 2021 /PRNewswire/ — National job growth continued to rise significantly in August, according to aggregated payroll data of approximately 350,000 clients provided by Paychex. The data released in the latest report of the Paychex | IHS Markit Small Business Employment Watch shows the Small Business Jobs Index gained 0.45 percent in August. At 99.80, the national index has increased 5.74 percent during the past 12 months, representing a record-high year-over-year growth rate. Hourly earnings growth increased to 3.42 percent in August, its third consecutive gain.
“The Small Business Jobs Index reached its highest level since January 2018,” said James Diffley, chief regional economist at IHS Markit. “The national