National index down in August; East North
Central continued as top-ranked region; Wisconsin claimed top index
spot among states; Dallas continues strong performance as
top-ranked metro area for 11th straight month
The Paychex | IHS Small Business Jobs Index decreased 0.17
percent from July to August, bringing the national index to 100.48.
Little movement in recent months gave way to August’s decline. The
index was down 0.51 percent from August 2014. The East North
Central continued as the top-performing regional index despite a
slight decrease month over month. Wisconsin surpassed Washington to
lead among states tracked by the index, while Dallas has continued
success as the top-ranked metro area for 11 straight months.
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“The Paychex | IHS Small Business Jobs Index declined 0.17
percent in August. Nevertheless, small business job gains continue
at a pace 0.48 percent faster than in our base period ten years
ago,” said James Diffley, chief regional economist at IHS.
“Although the national index growth rates have varied this year,
the overall trend remains positive," said Martin Mucci, president
and CEO of Paychex.
National Index
Falling to 100.48, the August decline puts the national index
0.51 percent below last year and 0.36 percent below its 2015 peak
in February. Despite the gradual decline since the national index
peaked in April 2014, positive employment growth is apparent with
consistent index levels over 100. The pace of employment growth has
been mixed so far in 2015, increasing in the first quarter and
decreasing in the second.
Regional Employment
After growth rates for seven of the nine regions improved in
July, eight of the nine regions declined in August. New England was
the only region to grow in August, 0.05 percent. East North Central
fell 0.22 percent in August, but remained the top-ranked regional
index at 101.61. After six consecutive gains from February to July,
the Mountain region posted the lowest one-month and 12-month growth
rates in August. At 99.62, Middle Atlantic dropped 0.20 percent in
August and is at its lowest level since September 2011. South
Atlantic remained the lowest-ranked index in August, dropping 0.19
percent to 99.53.
State Employment Trend
Washington fell from the top spot and is now tied for third with
Texas. Washington’s index, however, has been over 102 for 23
months, demonstrating continued strength. Wisconsin also fell in
August, but was able to claim first place among states with an
index level of 102.37. With a 12-month growth rate of 0.57 percent
and an index level of 102.36, Michigan’s strong performance is in
line with the total employment growth this year reported by the
BLS. Falling 1.84 percent over the past three months, Virginia is
the lowest state index at 96.81.
Metropolitan Employment Trend
With the best 12-month growth rate at 1.38 percent and an index
level of 105.23, Dallas continues to far outperform all the other
metros. Detroit and San Diego have the next best 12-month growth
rates and index levels, at 103.25 and 103.00, respectively. Two
other California metro indices round out the top five, San
Francisco and Riverside. Seattle and Tampa Bay gave up the most
momentum in August, falling almost one percent. Houston rebounded
0.56 percent to boost its index back above 100. All the same,
Houston has declined 2.81 percent over the last year, trailed only
by Minneapolis, -3.22 percent.
Launched on April 1, 2014, the monthly index from Paychex, Inc.,
a leading provider of payroll, human resource, insurance, and
benefits outsourcing solutions for small-to medium-sized
businesses, and IHS, Inc., a leading global source of critical
information and insight, provides analysis of small business
employment trends across the U.S.
The index analyzes same-store, year-over-year worker count
changes to identify and track small business employment trends
using real small business payroll data from the Paychex client
base. The index is based on aggregated data from approximately
350,000 small businesses with fewer than 50 workers across the
United States, one of the largest sample sizes of any small
business index or report in the country, and provides timely,
accurate insight into national, regional, state, and metro
employment activity. The index uses a base year of 2004, a period
of expansion before the start of the economic downturn. When the
index trends up it is a sign of a strengthening job market, and
when it trends down it is a sign of a slowdown.
For more information about the Paychex | IHS Small Business Jobs
Index, please visit the jobs index website. Plus, view and download
the August 2015 Paychex | IHS Small Business Jobs Index
infographic. Or, sign up to receive monthly alerts on the Paychex |
IHS Small Business Jobs Index.
About Paychex
Paychex, Inc. (NASDAQ:PAYX) is a leading provider of integrated
human capital management solutions for payroll, HR, retirement, and
insurance services. By combining its innovative
software-as-a-service technology and mobility platform with
dedicated, personal service, Paychex empowers small- and
medium-sized business owners to focus on the growth and management
of their business. Backed by more than 40 years of industry
expertise, Paychex serves approximately 590,000 payroll clients
across 100 locations and pays one out of every 15 American private
sector employees. Learn more about Paychex by visiting
www.paychex.com, and stay connected on Twitter and LinkedIn.
About IHS
(www.ihs.com)
IHS (NYSE:IHS) is the leading source of insight, analytics and
expertise in critical areas that shape today’s business landscape.
Businesses and governments in more than 150 countries around the
globe rely on the comprehensive content, expert independent
analysis and flexible delivery methods of IHS to make high-impact
decisions and develop strategies with speed and confidence. IHS has
been in business since 1959 and became a publicly traded company on
the New York Stock Exchange in 2005. Headquartered in Englewood,
Colorado, USA, IHS is committed to sustainable, profitable growth
and employs about 8,800 people in 32 countries around the
world.
IHS is a registered trademark of IHS Inc. All other company and
product names may be trademarks of their respective owners.
Copyright © 2015 IHS Inc. All rights reserved.
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version on businesswire.com: http://www.businesswire.com/news/home/20150901005257/en/
MediaPaychex, Inc.Lisa Fleming,
585-387-6402lfleming@paychex.com@PaychexNewsorIHSKate Smith,
781-301-9311Kate.smith@ihs.com
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