Paychex Sees Small Business Employment Holding Steady

Small business employment growth has remained relatively stable for the second month in a row, according to payroll service giant Paychex.

The Paychex | IHS Small Business Jobs Index increased only slightly from 100.63 in June to 100.64 in July. The national index essentially remained flat from May to July and trailed the employment growth seen last year, declining 0.46 percent from the previous July.

“The index has remained pretty consistent,” said Paychex president and CEO Martin Mucci. “Employment growth is positive and steady, but it is pretty much unchanged from the first half of 2015 as we begin the second half of the year. The good news is that over the past 12 months, the index has been consistently over 100, so it’s indicating slow, steady continuation of job gains over the our base year.”