Paychex

Small businesses with fewer than 50 employees continued to add jobs in June, albeit at a slower rate, but wage growth remained steady, payroll processor Paychex reported.

Hourly earnings growth for employees slid to their lowest level since the middle of 2021, according to Paychex.

The pace of small-business job growth slackened in April, but hourly earnings ticked up to 3.34%, ending a nearly two-year slowdown, according to Paychex.

It was the first hiring increase so far this year, according to Paychex, though it remained below pre-pandemic levels.

Year-over-year hourly earnings growth for U.S. workers moderated slightly in February, continuing a trend that began mid-2022, while small business job growth held steady.

Hourly earnings growth for employees is slowing, even as job growth continues, according to a new report from Paychex.

The average pace of job growth in 2023 remained above the growth rate leading up to the pandemic.

The pace of hourly earnings growth and hiring slowed down at small businesses, payroll processor Paychex reported.

Growth in hourly and weekly pay at small businesses decelerated in October as job growth moderated, payroll provider Paychex reported.

Hourly earnings growth slipped at small businesses last month to the slowest pace since September 2021, according to Paychex.