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Index shows improving employment conditions

Rochester Business Journal
April 29, 2014

The Paychex | IHS Small Business Jobs Index has reached a new peak, showing improving employment conditions nationwide.

Results of the monthly index were released Tuesday, showing a 0.5 percent growth, to 101.26, in the 12 months leading up to April. With the increase, the index has reached its highest level nationally since tracking began in 2004.

“This month’s small-business jobs index continues to show a trend we’ve been seeing for many months now,” said Martin Mucci, president and CEO of Paychex Inc. “While certain regions, states and metro areas are experiencing accelerated growth, overall employment among small businesses continues to advance at a slow, steady pace.”

The index analyzes same-store year-over-year worker count changes to identify and track small-business employment trends using, Paychex officials note. The index is based on aggregated data from approximately 350,000 small businesses with fewer than 50 workers across the United States. Company officials said it is one of the largest sample sizes of any small-business index or report in the country.

The index increased 0.10 percent in April, which officials said indicated improving job growth. 

“The April increase…adds to a series of optimistic signals in 2014 that job security and employment conditions are improving for American workers,” said James Diffley, chief regional economist at IHS.

The index shows the highest regional 12-month job growth came in the Mountain region, with 1.75 percent growth. The top among the 20 largest states was Washington with a 12-month change of 2.22 percent. Texas had the largest one-month drop with -0.61 percent in April, but its index remains among the highest state results.

(c) 2014 Rochester Business Journal. To obtain permission to reprint this article, call 585-546-8303 or e-mail service@rbj.net.


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