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Small Business Hiring and Wage Growth Remain Consistent in April
May 2, 2019 | IHS MarkitEstimated reading time: 4 minutes
With its best one month gain in nearly three years, the index for Construction surpassed 100, up 0.31% from the previous month.
Education and Health Services has increased its pace of small business employment growth in each month of 2019 and has a positive 12-month growth rate for the first time in more than two years.
Industry Wage Report
Leisure and Hospitality has lead industry sectors in hourly earnings growth since the beginning of 2018 and is accelerating in 2019, with 4.46% growth in April.
Manufacturing; Trade, Transportation, and Utilities; and Construction are also above 3% hourly earnings growth in April.
About the Paychex | IHS Markit Small Business Employment Watch
The Paychex | IHS Markit Small Business Employment Watch is released each month by Paychex, Inc., a leading provider of payroll, human resource, insurance, and benefits outsourcing solutions for small-to medium-sized businesses, and IHS Markit, a world leader in critical information, analytics, and expertise. Focused exclusively on small business, the monthly report offers analysis of national employment and wage trends, as well as examines regional, state, metro, and industry sector activity. Drawing from the payroll data of approximately 350,000 Paychex clients, this powerful tool delivers real-time insights into the small business trends driving the U.S. economy.
About Paychex
Paychex, Inc. is a leading provider of integrated human capital management solutions for payroll, benefits, human resources, and insurance services. By combining its innovative software-as-a-service technology and mobility platform with dedicated, personal service, Paychex empowers small- and medium-sized business owners to focus on the growth and management of their business. Backed by more than 45 years of industry expertise, Paychex serves over 650,000 payroll clients as of May 31, 2018, across more than 100 locations in the U.S. and Europe, and pays one out of every 12 American private sector employees.
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