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US Small Business Resumes Growth in May

2024-06-22OANDAOANDA
Employment growth among U.S. small businesses resumed last month after breaking a three-month streak of gains in May. The Paychex IHS Small Business Jobs Index advanced 0.21 percent to 100.81 in June from the previous month, marking the best reading yet this year. A measurement above 100 indicates growth. The index increased 0.44 percent in […]

Employment growth among U.S. small businesses resumed last month after breaking a three-month streak of gains in May.

The Paychex IHS Small Business Jobs Index advanced 0.21 percent to 100.81 in June from the previous month, marking the best reading yet this year. A measurement above 100 indicates growth.

The index increased 0.44 percent in the first six months of the year, despite a one-month dip in the second quarter. Small-business job growth slipped 0.18 percent in May.

The index is now up 0.18 percent year over year after trending flat to negative for the last 18 months.

“While we’ve seen a lot of movement in the index over the past couple of months, I think it’s important to focus on the long-term trend: sustained, moderate growth,” Martin Mucci, president and CEO of Paychex, said in a statement.

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