Paychex | IHS Markit Small Business Employment Watch: Wages Show Positive Momentum as Job Growth Continues to Moderate Amid Tightening Labor Market

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May 01, 2018
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- At $26.56, hourly earnings growth increased 2.69 percent YOY ($0.70); one-month annualized hourly earnings growth increased 3.25 percent, the best rate in more than two years

- The Small Business Jobs Index decreased 0.12 percent to 99.53 in April

- South leads regions in employment growth; West ranks highest for wage growth

- Tennessee remains the top in state job growth; Arizona remains first in annual hourly earnings growth

- Denver continues to lead metros in job growth; Phoenix tops metros in wage growth

- Manufacturing has seen the pace of small business job growth improve nearly one percent from last year; Leisure and Hospitality continues to lead industry sectors in hourly earnings growth

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