Small Business Hiring Remained Flat in February

• California, New York, and Arizona are the only states with hourly earnings growth above three%.
• Indiana has the weakest hourly earnings growth among states, with an ongoing year-long deceleration to less than one%.

Metropolitan Jobs Index 

• Reaching 103.32 in February, the Dallas index now exceeds all metros by more than two%, with Phoenix, Tampa, and Denver also above 100.
• Boston remained the weakest metro in February, dropping below 97 to its lowest index level since 2010.

Metropolitan Wage Report

• The Southwestern metros of Riverside, Phoenix, and San Diego lead hourly earnings growth; Denver also joins them at rates above 3.75%.
• Though Houston ranks last among metros for the seventh consecutive month, at 1.31% in February, its hourly earnings growth rate has steadily improved since October.

Industry Jobs Index

• Though below 99 and close to the national average, Leisure and Hospitality has had the most improved hiring activity in recent months, up 0.44% during the past quarter.
• At 97.75, the Financial Activities sector is one of the weakest industries for small business employment growth.

Industry Wage Report 

• Leisure and Hospitality has the fastest hourly earnings growth among industry sectors (4.23%), though its weekly hours worked growth ranks last at -1.12%.
• At 1.77%, Education and Health Services slipped to last place among industry sectors for hourly earnings growth, slowing from 2.39% last February. 

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