The rate of hiring for U.S. small businesses increased in February led by hiring in the leisure and hospitality industry, according to the latest Paychex | IHS Markit Small Business Employment Watch.
The Small Business Jobs Index, which measures national employment growth for businesses with fewer than 50 workers, continued to increase to 99.66 while the rate of hourly wage growth declined to 4.49% year-over-year in February.
Drawing from the payroll data of approximately 350,000 Paychex clients with fewer than 50 employees, the monthly report offers an analysis of national employment and wage trends as well as examines regional, state, metro and industry sector activity. See more findings.