Research >> Economics
Paychex-IHS Small Business Jobs Index rebounded to 100.49 in December
|
The Paychex | IHS Small Business Jobs Index rebounded 0.10 percent in December, increasing to 100.49, and ending three months of declines. Despite a series of positive and negative swings throughout the year, small business employment growth levels are 0.12 percent higher than the same period a year ago. Among regions, the East South Central continues to experience the strongest growth, up 3.02 percent from last year. Tennessee surpassed neighboring Georgia as the top-ranked state for small business employment. After nine months as the top metro index, Seattle was overtaken by Atlanta. Construction showed the strongest gains in December, while Education and Health Services had the best year-over-year growth.
“A year-end increase brought the Paychex | IHS Small Business Jobs Index 0.12 percent above a year ago. The average index level of 100.62 during 2016 surpassed 2015’s average of 100.59,” said James Diffley, chief regional economist at IHS Markit.
“The increase of the national index in December seems to mirror the overall sentiment of optimism for small business owners right now. According to the latest data from the NFIB, optimism among small business owners surged following the election,” said Martin Mucci, Paychex president and CEO.
Posted: January 3, 2017 Tuesday 08:30 AM