Report: Small businesses hired at slower rate in June

July 10, 2024

Small businesses with fewer than 50 employees added jobs in June but at a slower pace than in May, while hourly earnings growth for workers held steady last month, according to the latest Paychex Small Business Employment Watch.

The national jobs index continued to represent employment gains in June (100.29) but growth was smaller than in May (100.58) and June 2023 (101.37) — an index value of more than 100 shows job gains.

According to Paychex, national hourly earnings growth held steady at 3.16% in June, consistent with the moderating trend reported during the first half of 2024. Read more.

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