Monthly UpdateAug 4, 2026, 08:34 AM
Paychex: Small Biz Job Growth Steady; Weekly Hours Up 5-Year High
AI Summary
The Paychex Small Business Employment Watch for July 2026 reported steady U.S. small business job growth, with the jobs index at 99.23, slightly above the first-half average. A notable trend was the 0.40% growth in weekly hours worked, reaching its highest level in over five years. This contributed to weekly earnings growth rising to 3.14%, the strongest since December 2023. Manufacturing led all sectors in job growth for the month.
Key Highlights
- Small business jobs index was 99.23 in July, remaining steady.
- Hourly earnings growth for small business workers was 2.86% in July.
- Weekly hours worked growth reached 0.40%, its highest level in over five years.
- Weekly earnings growth rose to 3.14%, the strongest since December 2023.
- National Small Business Jobs Index is up 0.07 percentage points over the past quarter.
- Manufacturing recorded the strongest one-month job growth at 0.35 percentage points.
Price Impact
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