Paychex

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.

The rate of growth for hiring and hourly earnings stabilized this month, according to Paychex.

Earnings growth for small business employees fell below 4% for the first time in more than two years, according to Paychex.

The rate of hourly pay and hiring growth slackened last month at small businesses, which also had a harder time finding workers.

Hourly earnings growth for U.S. workers decelerated to 4.33% in May, while small business job growth declined slightly by 0.04% from April, Paychex reported.

The pace of hiring, pay and hours worked decelerated last month, according to a report released Tuesday by payroll provider Paychex.

Small businesses did a bit more hiring and paid workers more last month, according to a report from payroll provider Paychex.

Despite the higher premiums they can charge when operating at capacity, the lack of qualified candidates is spelling trouble for firms who are running on skeleton crews.