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Paychex index shows small business growth slows again in June

Rochester Business Journal
July 1, 2014

Though the Paychex | IHS Small Business Jobs Index dropped for the second consecutive month, results for the last 12 months leading up to June signal improvement, new information released by Paychex Inc. shows.

The index, which measures change in small business employment based on 350,000 businesses in the U.S. with fewer than 50 employees, fell to 101.07 in June. It was the lowest level since January. It grew 0.23 percent in the last year.

The Middle Atlantic region, which includes New York, showed the weakest growth. Its index dropped 0.39 percent to 100.41, over the last 12 months. New York’s index is currently 100.86, which is the 13th highest score, after dropping 0.25 percent.

“Though the pace of gains remains moderate, the Paychex | IHS Small Business Jobs Index shows that payroll conditions have clearly improved this year for the country’s small businesses,” said James Diffley, chief regional economist at IHS, in a statement.

Washington currently has the highest index at 103.24 and experienced 1.77 percent increase during the last year.

(c) 2014 Rochester Business Journal. To obtain permission to reprint this article, call 585-546-8303 or email

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