U.S. small businesses experienced job growth for all of 2023 and extended a cycle of consistent job growth for 33 straight months, according to December data from the Paychex Small Business Employment Watch.
The Small Business Jobs Index closed the year at 101.21 (1.2% growth), while hourly earnings growth for U.S. workers in December (3.48%) was down from 4.93% in December of 2022.
The data report found hourly earnings growth for U.S. workers in December (3.48%) remained relatively unchanged since November (3.47%).
The average pace of job growth in 2023 remained above the growth rate leading up to the pandemic when it was 101.10. See more highlights.