Paychex Sees Small Business Job Growth Rebound in January

Paychex reported Tuesday that its index of small business job growth rebounded in January.

The Paychex | IHS Small Business Jobs Index, which the payroll giant compiles with the research firm IHS rebounded to 100.65, up 0.28 percent from December. The January index indicates an increase in the rate of small business hiring, matching the highest level since May of 2015, and offsetting the growth rate declines of 2015.

“We actually saw a nice rebound in January from December,” said Paychex president and CEO Martin Mucci. “The decreases in the growth rate of hiring for small businesses that we saw happening in the middle of 2015 have recovered in January. We don’t know whether one month makes up for a year, but certainly in January it was a nice start.”

The Mountain region remains the top-performing regional index, with the best year-over-year growth rate. Washington surpassed Texas to take the lead among states. Despite a drop in January, Dallas maintained its top ranking among metropolitan areas for the sixteenth consecutive month. Other Services (except Public Administration), as defined by the Bureau of Labor Statistics, ranked as the top industry sector, followed by Construction.

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