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Business Wire
5 days ago
- Business
- Business Wire
U.S. Small Business Job Growth Remains Largely Unchanged in May
ROCHESTER, N.Y.--(BUSINESS WIRE)--In May, job growth in U.S. small businesses remained largely unchanged from April, according to the Paychex Small Business Employment Watch. The Small Business Jobs Index, which is a primary component of Paychex's monthly employment report for businesses with fewer than 50 employees, has continued to show steady, flat employment growth throughout 2025. Meanwhile, hourly earnings growth for U.S. small business workers reached a four-year low at 2.77% in May. 'Despite the rapidly changing news cycle, the underlying labor market remains fundamentally healthy, and small business owners have remained resilient,' said John Gibson, Paychex president and CEO. 'While inflation concerns remain for business owners, wage inflation in small businesses continued to moderate and reached a new four-year low in May.' Jobs Index and Wage Data Highlights At 99.81 in May, the national Small Business Jobs Index continued to report steady, flat employment growth in 2025. National hourly earnings growth (2.77%) for small business workers continued its slow descent to a new four-year low (May 2021: 2.74%). Three-month annualized hourly earnings growth (2.45%) fell to its lowest level since December 2020 (1.66%). The Midwest (100.19) has represented the strongest region for small business employment growth for the past year, while the West continues to lag all regions and reported an index level below 100 for the 14th consecutive month in May. Construction dropped 0.68 percentage points to a jobs index of 99.69 in May, marking its lowest level since March 2021. Job growth in the Leisure and Hospitality industry remained last among sectors for the fourth consecutive month at 98.18 in May. More Information For more information about the Paychex Small Business Employment Watch, visit the website and sign up to receive monthly Employment Watch alerts. *Information regarding the professions included in the industry data can be found at the Bureau of Labor Statistics website. About the Paychex Small Business Employment Watch The Paychex Small Business Employment Watch is released each month by Paychex, Inc. Focused exclusively on businesses with fewer than 50 workers, the monthly report offers analysis of national employment and wage trends and examines regional, state, metro, and industry sector activity. Drawing from the payroll data of approximately 350,000 Paychex clients, this powerful industry benchmark delivers real-time insights into the small business trends driving the U.S. economy. The jobs index is scaled to 100, which represents no year-over-year change in job growth among same store businesses. Index values above 100 represent new jobs being added, while values below 100 represent jobs being lost. About Paychex Paychex, Inc. (Nasdaq: PAYX) is the digitally driven HR leader that is reimagining how companies address the needs of today's workforce with the most comprehensive, flexible, and innovative HCM solutions for organizations of all sizes. Offering a full spectrum of HR advisory and employee solutions, Paychex pays 1 out of every 11 American private sector workers and is raising the bar in HCM for nearly 800,000 customers in the U.S. and Europe. Every member of the Paychex team is committed to fulfilling the company's purpose of helping businesses succeed. Visit to learn more. Visit to learn more.
Yahoo
5 days ago
- Business
- Yahoo
U.S. Small Business Job Growth Remains Largely Unchanged in May
Hourly earnings growth reaches new four-year low ROCHESTER, N.Y., June 03, 2025--(BUSINESS WIRE)--In May, job growth in U.S. small businesses remained largely unchanged from April, according to the Paychex Small Business Employment Watch. The Small Business Jobs Index, which is a primary component of Paychex's monthly employment report for businesses with fewer than 50 employees, has continued to show steady, flat employment growth throughout 2025. Meanwhile, hourly earnings growth for U.S. small business workers reached a four-year low at 2.77% in May. "Despite the rapidly changing news cycle, the underlying labor market remains fundamentally healthy, and small business owners have remained resilient," said John Gibson, Paychex president and CEO. "While inflation concerns remain for business owners, wage inflation in small businesses continued to moderate and reached a new four-year low in May." Jobs Index and Wage Data Highlights At 99.81 in May, the national Small Business Jobs Index continued to report steady, flat employment growth in 2025. National hourly earnings growth (2.77%) for small business workers continued its slow descent to a new four-year low (May 2021: 2.74%). Three-month annualized hourly earnings growth (2.45%) fell to its lowest level since December 2020 (1.66%). The Midwest (100.19) has represented the strongest region for small business employment growth for the past year, while the West continues to lag all regions and reported an index level below 100 for the 14th consecutive month in May. Construction dropped 0.68 percentage points to a jobs index of 99.69 in May, marking its lowest level since March 2021. Job growth in the Leisure and Hospitality industry remained last among sectors for the fourth consecutive month at 98.18 in May. More Information For more information about the Paychex Small Business Employment Watch, visit the website and sign up to receive monthly Employment Watch alerts. *Information regarding the professions included in the industry data can be found at the Bureau of Labor Statistics website. About the Paychex Small Business Employment Watch The Paychex Small Business Employment Watch is released each month by Paychex, Inc. Focused exclusively on businesses with fewer than 50 workers, the monthly report offers analysis of national employment and wage trends and examines regional, state, metro, and industry sector activity. Drawing from the payroll data of approximately 350,000 Paychex clients, this powerful industry benchmark delivers real-time insights into the small business trends driving the U.S. economy. The jobs index is scaled to 100, which represents no year-over-year change in job growth among same store businesses. Index values above 100 represent new jobs being added, while values below 100 represent jobs being lost. About Paychex Paychex, Inc. (Nasdaq: PAYX) is the digitally driven HR leader that is reimagining how companies address the needs of today's workforce with the most comprehensive, flexible, and innovative HCM solutions for organizations of all sizes. Offering a full spectrum of HR advisory and employee solutions, Paychex pays 1 out of every 11 American private sector workers and is raising the bar in HCM for nearly 800,000 customers in the U.S. and Europe. Every member of the Paychex team is committed to fulfilling the company's purpose of helping businesses succeed. Visit to learn more. Visit to learn more. View source version on Contacts Media: Tracy VolkmannPaychex, Public Relations(585) 387-6705tvolkmann@ @Paychex Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Business Wire
29-04-2025
- Business
- Business Wire
U.S. Small Business Job Growth Remains Consistent in April
ROCHESTER, N.Y.--(BUSINESS WIRE)--According to the Paychex Small Business Employment Watch, job growth in U.S. small businesses with fewer than 50 employees ticked up slightly in April, gaining 0.27 percentage points to an index level of 100.02. The Small Business Jobs Index, a primary component of the Employment Watch report, has averaged 99.99 over the past 12 months, indicating little change in small business labor market over the last year. Hourly earnings growth for U.S. small business workers, meanwhile, slowed to its lowest level since May 2021 at 2.82%. 'Our April jobs data signals a small business labor market that remains stable as business owners navigate the evolving macroenvironment,' said John Gibson, Paychex president and CEO. 'We are seeing no signs of a recession in our data as many small business owners are keeping their workforce levels consistent. Many leaders appear to be taking a wait-and-see approach to hiring until the macroenvironment settles and they have a better understanding of how any changes will impact their short and long-term growth.' 'As businesses continue to face new and ongoing challenges, we remain steadfast in our mission to help them succeed,' Gibson added. 'Our recent acquisition of Paycor unlocks even more opportunities for us to help organizations of all sizes manage their workforce during an uncertain time.' Jobs Index and Wage Data Highlights The Small Business Jobs Index gained 0.27 percentage points to 100.02 in April and has averaged an index level of 99.99 over the past 12 months. Hourly earnings growth for workers slowed to its lowest level (2.82%) since May 2021. Weekly hours worked growth (-0.17%) remained negative in April despite one-month annualized growth of 2.62%. All four regional jobs indexes improved in April, led by a 0.81 percentage-point gain in the Midwest. The Midwest remains the top region for small business job growth for the 11th-straight month. Ohio spiked 2.24 percentage points to an index level of 101.94 in April. Ranked first among states for the first time since reporting began in 2014, significant job growth gains in Trade, Transportation, and Utilities in the state helped push Ohio to the leader position. With an index level of 102.35, Minneapolis reported strong job gains again in April and topped the state rankings for the second consecutive month. Professional and Business Services improved 0.82 percentage points to a jobs index level of 100.36, marking the best one-month gain among sectors in April. More Information For more information about the Paychex Small Business Employment Watch, visit the website and sign up to receive monthly Employment Watch alerts. *Information regarding the professions included in the industry data can be found at the Bureau of Labor Statistics website. About the Paychex Small Business Employment Watch The Paychex Small Business Employment Watch is released each month by Paychex, Inc. Focused exclusively on businesses with fewer than 50 workers, the monthly report offers analysis of national employment and wage trends and examines regional, state, metro, and industry sector activity. Drawing from the payroll data of approximately 350,000 Paychex clients, this powerful industry benchmark delivers real-time insights into the small business trends driving the U.S. economy. The jobs index is scaled to 100, which represents no year-over-year change in job growth among same store businesses. Index values above 100 represent new jobs being added, while values below 100 represent jobs being lost. About Paychex Paychex, Inc. (Nasdaq: PAYX) is the digitally driven HR leader that is reimagining how companies address the needs of today's workforce with the most comprehensive, flexible, and innovative HCM solutions for organizations of all sizes. Offering a full spectrum of HR advisory and employee solutions, Paychex pays 1 out of every 11 American private sector workers and is raising the bar in HCM for nearly 800,000 customers in the U.S. and Europe. Every member of the Paychex team is committed to fulfilling the company's purpose of helping businesses succeed. Visit to learn more. Visit to learn more.
RTÉ News
25-04-2025
- Business
- RTÉ News
Cautious approach to hiring in pharma and tech amid tariff fears
New research from hiring platform IrishJobs has revealed a cautious approach to hiring among firms in the science and IT sectors ahead of the US tariffs announcement. The Jobs Index for the first quarter of the year showed there was no change in quarterly job vacancies in both of these sectors which IrishJobs said indicated that companies were adopting a "wait and see" approach to hiring. The science sector is composed of a wide range of pharmaceutical and life sciences multinationals which are exposed to potential sector specific trade tariffs. The cautious hiring sentiment was also evident in the tech sector, which could be impacted by retaliatory measures levied by the EU on digital service providers. Consumer-driven sectors associated with the domestic economy, which are less directly impacted by the global trading environment experienced quarterly vacancy growth. These included retail, sport and fitness, and sales. The catering sector, which includes jobs in hospitality, accounted for the largest number of vacancies in the first three months of the year. The total number of quarterly job vacancies increased by 5% which IrishJobs said reflected the continued strength of the Irish economy and labour market. According to the index, the proportion of hybrid working vacancies as a share of total vacancies has increased to 11% over the past three months. In contrast, the share of fully remote vacancies as a proportion of overall vacancies remains relatively low at 2.4%. While there was a slight increase in the share of fully remote job vacancies in the first quarter of the year, their availability remains down 80.6% from the peak recorded in 2021. "As elevated economic uncertainty becomes the new normal, we may see moderating levels of hiring across certain sectors in the coming months," said Sam Dooley, Country Director of The Stepstone Group Ireland with responsibility for IrishJobs. "These conditions could offer some respite to employers navigating an exceptionally competitive market for talent and provide a window of opportunity for employers to better meet their talent needs over the coming months," Mr Dooley said.
Irish Independent
25-04-2025
- Business
- Irish Independent
Science and IT sectors'cautious' about hiring amidst trade threats despite a rise in jobs
According to hiring website IrishJobs's Jobs Index released today, vacancies have gone up by 5pc but the 'cracks are beginning to show' as a result of the US's tariff threats. The IT and Science sector which includes multinational businesses in Pharmaceuticals and Life Sciences, that are likely to be most exposed to the tariffs, showed a more cautious hiring sentiment. The report found that the sectors adopted a 'wait and see' approach to hiring: 'The uncertainty created by this shifting trading environment is already starting to impact hiring sentiment in some internationally traded sectors.' Julius Probst, European Labour Market Economist at IrishJobs and investment firm Stepstone Group said cracks were beginning to show in the labour market. 'The Irish labour market continues to perform well, with an exceptionally low unemployment rate of 4pc paired with employment gains of about 70,000 throughout 2024,' he said 'However, beneath the surface some cracks are starting to appear. As a small and open economy, Ireland is particularly exposed to global economic conditions. While interest rates are finally coming down, this is mostly due to weak demand in the Eurozone. 'As global economic uncertainty is reaching a record-high due to the US trade war, international companies are becoming more cautious in their hiring approach.' The report found 'close to record low levels of unemployment and moderate domestic growth' with more consumer-driven sectors in the domestic economy like retail, sport and fitness, and sales had seen significant growth. The construction sector (5pc) accounted for marginally more vacancies than the IT sector (4.9pc) during the quarter. The highest number of vacancies were seen in the catering sector (11pc), followed by health and sales. The period also saw hybrid jobs increase to 11pc out of all vacancies even as major companies push for staff to return to the office. However, Fully remote jobs only saw a slight increase – their availability remained down 80.6pc from the Covid-related peak recorded in 2021. Large Irish cities saw a larger flux of job vacancies with Galway (22pc) and Waterford (13pc) standing at the top, followed by Dublin (3pc). Staff nurses, production operators and engineers, and customer and sales assistants were some of the most in-demand roles over the quarter in Galway, while Waterford saw the hiring of more engineers and technicians.
