Hourly Wage Growth for Small Business Workers Continues to Cool, Consistent with Overall Inflation Trend

ROCHESTER, N.Y.--(BUSINESS WIRE)---- $PAYX #employmenttrends--According to the Paychex | IHS Markit Small Business Employment Watch, hourly earnings growth has slowed to 3.79% in September 2023, a pace not seen since September 2021 (3.77%). The Small Business Jobs Index — which measures the rate of small business job growth in the U.S. — shows 98.89 in September, a -0.21% change from August. “Wage inflation continues to cool, and the jobs index dips below 99 for September,” said James Diffley, chief regional economist, S&