Katherine Smith, +1 781 301 9311
katherine.smith@ihsmarkit.com
The Paychex | IHS Markit Small Business Employment Watch shows small business job growth was essentially unchanged in April; Hourly earnings growth for workers continues to moderate slightly
The Paychex | IHS Markit Small Business Employment Watch for April shows job and wage growth kept pace with recent months. In the first four months of 2019 job growth has remained relatively consistent, slowing just 0.03 percent per month to 98.77 in April. Annualized hourly earnings growth in the last quarter was 2.78 percent, higher than April’s rate of 2.50 percent ($0.66).
“While weak, the rate of small business hiring has been consistent, with the national index slightly below 99 for the fifth consecutive month,” said James Diffley, chief regional economist at IHS Markit.
“We’re encouraged to see the rate of small business job growth holding steady, but finding qualified candidates remains a significant challenge for small businesses,” said Martin Mucci , Paychex president and CEO. “According to a recent survey we conducted, to help address the labor skills gap, a majority of small business leaders say they’re willing to consider hiring underqualified candidates who could then be trained on the job.”
The complete results for April, including interactive charts detailing all data at a national, regional, state, metro, and industry level, are available at www.paychex.com/employment-watch . Highlights are available below.
April 2019 Paychex | IHS Markit Small Business Employment Watch
National Jobs Index
National Wage Report
Regional Jobs Index
Note: Percentages displayed in the regional heat map reflect 12-month changes.
Regional Wage Report
Note: Percentages displayed in the regional heat map reflect 12-month changes.
State Jobs Index
Note: Analysis is provided for the 20 largest states based on U.S. population. The chart’s dark blue bars reflect the index level and the light blue diamonds reflect the 12-month change.
State Wage Report
Note: Analysis is provided for the 20 largest states based on U.S. population.
Metropolitan Jobs Index
Note: Analysis is provided for the 20 largest metro areas based on U.S. population. The chart’s dark blue bars reflect the index level and the light blue diamonds reflect the 12-month change.
Metropolitan Wage Report
Note: Analysis is provided for the 20 largest metro areas based on U.S. population.
Industry Jobs Index
Note: Analysis is provided for seven major industry sectors. The chart’s dark blue bars reflect the index level and the light blue diamonds reflect the 12-month change.
Industry Wage Report
Note: Analysis is provided for seven major industry sectors.
For more information about the Paychex | IHS Markit Small Business Employment Watch, visit
www.paychex.com/employment-watch
and
sign up
to receive monthly Employment Watch alerts.
*Information regarding the professions included in the industry data can be found at the Bureau of Labor Statistics website .
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. (NASDAQ: PAYX) 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. Learn more about Paychex by visiting
www.paychex.com
, and stay connected on
Twitter
and
LinkedIn
.
About IHS Markit
(
www.ihsmarkit.com
)
IHS Markit (Nasdaq: INFO) is a world leader in critical information, analytics and solutions for the major industries and markets that drive economies worldwide. The company delivers next-generation information, analytics and solutions to customers in business, finance and government, improving their operational efficiency and providing deep insights that lead to well-informed, confident decisions. IHS Markit has more than 50,000 business and government customers, including 80 percent of the Fortune Global 500 and the world’s leading financial institutions. Headquartered in London, IHS Markit is committed to sustainable, profitable growth.
IHS Markit is a registered trademark of IHS Markit Ltd. and/or its affiliates. All other company and product names may be trademarks of their respective owners © 2019 IHS Markit Ltd. All rights reserved.
###
Media Contacts
Lisa Fleming
Paychex, Inc.
+1 585-387-6402
Kate Smith
IHS Markit
+1 781-301-9311
Tess Flynn
Mower
+1 716-880-1488