{"id":767730,"date":"2023-07-05T09:36:18","date_gmt":"2023-07-05T13:36:18","guid":{"rendered":"https:\/\/www.marketnewsdesk.com\/index.php\/small-business-jobs-index-dips-in-june-rate-of-wage-growth-continues-to-moderate\/"},"modified":"2023-07-05T09:36:18","modified_gmt":"2023-07-05T13:36:18","slug":"small-business-jobs-index-dips-in-june-rate-of-wage-growth-continues-to-moderate","status":"publish","type":"post","link":"https:\/\/www.marketnewsdesk.com\/index.php\/small-business-jobs-index-dips-in-june-rate-of-wage-growth-continues-to-moderate\/","title":{"rendered":"Small Business Jobs Index Dips in June, Rate of Wage Growth Continues to Moderate"},"content":{"rendered":"<p>        <!--.bwalignc { text-align: center; list-style-position: inside }\n.bwlistdisc { list-style-type: disc }body {font:normal small Arial,Helvetica,sans-serif;color:#000;background-color:#fff;padding:24px;margin:0;} a img {border:0;} h3 {font-size:medium;color:#000;margin:0 0 1em 0; text-align:center;}-->  <\/p>\n<p class=\"bwalignc\"><b>Small Business Jobs Index Dips in June, Rate of Wage Growth Continues to Moderate<\/b><\/p>\n<p class=\"bwalignc\"><i>Leisure and hospitality sector continues to struggle to hire back to pre-pandemic levels<\/i><\/p>\n<p>ROCHESTER, N.Y.&#8211;(<a href=\"http:\/\/www.businesswire.com\">BUSINESS WIRE<\/a>)&#8211;<br \/>\nThe rate of small business hiring slowed modestly in June as hourly earnings growth across the U.S. decelerated to 4.02% from 4.24% in May, according to the <a rel=\"nofollow\" href=\"https:\/\/cts.businesswire.com\/ct\/CT?id=smartlink&amp;url=https%3A%2F%2Fwww.paychex.com%2Femployment-watch%2F%23%21%2F&amp;esheet=53439083&amp;newsitemid=20230705068435&amp;lan=en-US&amp;anchor=Paychex+%7C+IHS+Markit+Small+Business+Employment+Watch&amp;index=1&amp;md5=3d7a33d5b4b689c9d101856a43c80979\">Paychex | IHS Markit Small Business Employment Watch<\/a>. The national Small Business Jobs Index \u2014 which measures the rate of small business job growth in the U.S. \u2014 registered 99.21 in June, virtually unchanged so far in 2023.<\/p>\n<p id=\"news-body-cta\">This press release features multimedia. View the full release here: <a href=\"https:\/\/www.businesswire.com\/news\/home\/20230705068435\/en\/\" rel=\"nofollow\">https:\/\/www.businesswire.com\/news\/home\/20230705068435\/en\/<\/a><\/p>\n<div id=\"bwbodyimg\" style=\"width: 480px;float:left;padding-left:0px;padding-right:20px;padding-top:0px;padding-bottom:0px\"><img decoding=\"async\" src=\"https:\/\/mms.businesswire.com\/media\/20230705068435\/en\/1833589\/4\/june-wage-index-combo.jpg\" alt=\"At 99.21, the national jobs index decreased 0.24% in June, while hourly earnings growth moderated further to 4.02%. (Graphic: Business Wire)\" \/><\/p>\n<p style=\"font-size:85%\">At 99.21, the national jobs index decreased 0.24% in June, while hourly earnings growth moderated further to 4.02%. (Graphic: Business Wire)<\/p>\n<\/div>\n<p>\n\u201cHourly earnings gains slowed to 4.02%, in line with a gradually slowing rate of inflation,\u201d said James Diffley, chief regional economist, S&amp;P Global Market Intelligence.<\/p>\n<p>\n\u201cOur June data suggests small business employment trends are following greater economic patterns, with slowing hourly wage gains aligning with continued declining inflation \u2013 a positive sign for businesses,\u201d said <a rel=\"nofollow\" href=\"https:\/\/cts.businesswire.com\/ct\/CT?id=smartlink&amp;url=https%3A%2F%2Fwww.paychex.com%2Fnewsroom%2Fexecutive-bios%2Fjohn-gibson&amp;esheet=53439083&amp;newsitemid=20230705068435&amp;lan=en-US&amp;anchor=John+Gibson&amp;index=2&amp;md5=5f219e33ce39102dea399bcb83d7aea9\">John Gibson<\/a>, Paychex president and CEO. \u201cA moderation in job growth signals that the competitive hiring environment continues. This is especially true in leisure and hospitality, as these employers appear to once again be struggling to find people to fill open positions. Now more than ever, it is important for businesses to improve their operational efficiency and offer competitive employee benefits.\u201d<\/p>\n<p>\nIn further detail, the June report shows:<\/p>\n<ul class=\"bwlistdisc\">\n<li>\nAt 99.21, the national jobs index decreased 0.24% in June. Overall, employment growth slowed 0.51% during the second quarter of 2023 after increasing in the first three months of 2023. The index remains a full point higher than the year leading up to the pandemic (March 2019-February 2020).<\/p>\n<\/li>\n<li>\nHourly earnings growth moderated further to 4.02%, while one-month annualized hourly earnings growth is now below three percent (2.99%) for the first time since 2020.<\/p>\n<\/li>\n<li>\nThe South continues to lead small business employment growth among regions for the 15<sup>th<\/sup> consecutive month at 100.12, down 0.35%. The South also leads hourly earnings growth by a small margin.<\/p>\n<\/li>\n<li>\nTexas (4.91%) continues to report the strongest hourly earnings growth among the 20 largest states, though growth is decelerating.<\/p>\n<\/li>\n<li>\nAt 101.89, Houston ranks first among metros for small business employment growth for the eighth consecutive month.<\/p>\n<\/li>\n<li>\nAt 4.81%, leisure and hospitality is again first among sectors for hourly earnings growth and is the only sector to report an increase in hourly earnings growth from May to June.<\/p>\n<\/li>\n<\/ul>\n<p><a rel=\"nofollow\" href=\"https:\/\/cts.businesswire.com\/ct\/CT?id=smartlink&amp;url=https%3A%2F%2Fwww.paychex.com%2Fbusiness-solutions%3Futm_source%3Dnews%2520release%26utm_medium%3Dpress%2520release%26utm_campaign%3Dsbew%26utm_term%3Ddata-driven-sbew%26utm_content%3DMay2022&amp;esheet=53439083&amp;newsitemid=20230705068435&amp;lan=en-US&amp;anchor=Paychex+solutions&amp;index=3&amp;md5=c28797a85d808bdd109118b288eee571\">Paychex solutions<\/a> reach 1 in 12 American private-sector employees, making the Small Business Employment Watch an industry benchmark. Drawing from the payroll data of approximately 350,000 Paychex clients with fewer than 50 employees, the monthly report offers analysis of national employment and wage trends, as well as examines regional, state, metro, and industry sector activity.<\/p>\n<p>\nThe complete results for June 2023, including interactive charts detailing all data, are available at <a rel=\"nofollow\" href=\"https:\/\/cts.businesswire.com\/ct\/CT?id=smartlink&amp;url=http%3A%2F%2Fwww.paychex.com%2Fwatch%2F%3Futm_source%3Dnews%2520release%26utm_medium%3Dpress%2520release%26utm_campaign%3Dsbew%26utm_term%3Ddata-driven-sbew%26utm_content%3DMay2022&amp;esheet=53439083&amp;newsitemid=20230705068435&amp;lan=en-US&amp;anchor=www.paychex.com%2Fwatch&amp;index=4&amp;md5=3ccf98e528b45b658c620679b66f838c\">www.paychex.com\/watch<\/a>. Highlights are available below.<\/p>\n<p class=\"bwalignc\"><b>June 2023 Paychex | IHS Markit Small Business Employment Watch<\/b><\/p>\n<p><b>National Jobs Index<\/b><\/p>\n<ul class=\"bwlistdisc\">\n<li>\nAt 99.21, the national index is down 0.24% in June and 1.58% from a year ago.<\/p>\n<\/li>\n<li>\nThe pace of small business employment growth slowed 0.51% during the second quarter of 2023, following a 0.35% increase during the first quarter of 2023.<\/p>\n<\/li>\n<\/ul>\n<p><b>National Wage Report<\/b><\/p>\n<ul class=\"bwlistdisc\">\n<li>\nHourly earnings growth decelerated further to 4.02% in June.<\/p>\n<\/li>\n<li>\nOne-month annualized hourly earnings growth is below three percent (2.99%) for the first time since 2020.<\/p>\n<\/li>\n<li>\nAt 4.00%, weekly earnings growth is unchanged from last month as weekly hours worked growth levels off (-0.09%).<\/p>\n<\/li>\n<\/ul>\n<p><b>Regional Jobs Index<\/b><\/p>\n<ul class=\"bwlistdisc\">\n<li>\nDespite slowing 0.35% in June, the South (100.12) continues a 15-month streak leading small business employment growth among regions.<\/p>\n<\/li>\n<li>\nEvery region\u2019s index decreased in June. The Northeast (98.68) fell to the lowest rank among regions. At 98.73, the West declined just 0.13%, leaving last place for the first time since October 2022.<\/p>\n<\/li>\n<\/ul>\n<p><b>Regional Wage Report<\/b><\/p>\n<ul class=\"bwlistdisc\">\n<li>\nThe South (4.15%) leads hourly earnings growth among regions, though all other regions trail closely behind.<\/p>\n<\/li>\n<li>\nWeekly earnings growth is just above four percent for all four regions in June.<\/p>\n<\/li>\n<li>\nThe Midwest (0.13%) ranks first among regions for weekly hours worked growth.<\/p>\n<\/li>\n<\/ul>\n<p><b>State Jobs Index<\/b><\/p>\n<ul class=\"bwlistdisc\">\n<li>\nDespite leading the pace of small business job growth among states for the past year, North Carolina\u2019s index (100.96) is below 101 for the first time in two years as the state\u2019s rapid gains are decelerating in 2023.<\/p>\n<\/li>\n<li>\nAt 98.28, New York is to last among the 20 largest states for small business job growth in June. Neighboring New Jersey is not far behind, ranked 19<sup>th<\/sup> at 98.37.<\/p>\n<\/li>\n<li>\nWith the strongest one-month (0.36%) and 12-month (1.37%) change rates among states, Tennessee has improved to third among states at 100.50 in June.<\/p>\n<\/li>\n<\/ul>\n<p><b>State Wage Report<\/b><\/p>\n<ul class=\"bwlistdisc\">\n<li>\nAt 4.91%, Texas continues to report the strongest hourly earnings growth among states, though growth is decelerating. The state\u2019s hourly earnings growth ended 2022 above six percent (6.22%) but quickly dropped below five percent (4.91%) in the first half of 2023.<\/p>\n<\/li>\n<li>\nWisconsin (4.77%) and Florida (4.48%) trail Texas (4.91%) for the top three-ranked states for hourly earnings growth.<\/p>\n<\/li>\n<li>\nGeorgia ranks in the bottom two among states for both earnings and hours worked growth. At 2.83%, Georgia is the only state with weekly earnings growth below three percent.<\/p>\n<\/li>\n<\/ul>\n<p><b>Metropolitan Jobs Index<\/b><\/p>\n<ul class=\"bwlistdisc\">\n<li>\nAt 101.89, Houston ranks first among metros for the eighth consecutive month.<\/p>\n<\/li>\n<li>\nBaltimore\u2019s index is up 0.59% to 100.13, its highest level since 2018. Up 0.35% from a year ago, Baltimore is the only metro with a positive 12-month change rate.<\/p>\n<\/li>\n<li>\nMiami\u2019s index gains 0.31% in June to 100.98, second among metros.<\/p>\n<\/li>\n<\/ul>\n<p><b>Metropolitan Wage Report<\/b><\/p>\n<ul class=\"bwlistdisc\">\n<li>\nRiverside (4.92%) is now the top-ranked metro for hourly earnings growth, overtaking Texas metros Dallas (4.82%) and Houston (4.81%).<\/p>\n<\/li>\n<li>\nAt 2.87%, San Francisco ranks last among metros for hourly earnings growth and is the only metro with growth below three percent.<\/p>\n<\/li>\n<li>\nBaltimore has the strongest weekly hours worked growth rate among metros (0.56%).<\/p>\n<\/li>\n<\/ul>\n<p><b>Industry Jobs Index<\/b><\/p>\n<ul class=\"bwlistdisc\">\n<li>\nAt 99.63, leisure and hospitality is down 0.89% in June and 3.63% from last year. The leisure and hospitality index industry\u2019s index is below 100 for the first time in two years.<\/p>\n<\/li>\n<li>\nEducation and health services\u2019 index remains strong (100.69), reporting the best 12-month change rate (0.29%) among industries.<\/p>\n<\/li>\n<\/ul>\n<p><b>Industry Wage Report<\/b><\/p>\n<ul class=\"bwlistdisc\">\n<li>\nAt 4.81%, leisure and hospitality is again the top-ranked sector for hourly earnings growth. Leisure and hospitality is also the only sector to report an increase in hourly earnings growth from May to June.<\/p>\n<\/li>\n<li>\nConstruction remains the top-ranked sector in weekly earnings growth (4.84%) and weekly hours worked growth (0.44%).<\/p>\n<\/li>\n<li>\nOther services (except public administration) ranks last among sectors in hourly earnings (3.35%), weekly earnings (2.97%), and weekly hours worked growth (-0.45%).<\/p>\n<\/li>\n<\/ul>\n<p>\nFor more information about the Paychex | IHS Markit Small Business Employment Watch, visit <a rel=\"nofollow\" href=\"https:\/\/cts.businesswire.com\/ct\/CT?id=smartlink&amp;url=https%3A%2F%2Fwww.paychex.com%2Fwatch%3Futm_source%3Dnews%2520release%26utm_medium%3Dpress%2520release%26utm_campaign%3Dsbew%26utm_term%3Ddata-driven-sbew%26utm_content%3DMay2022&amp;esheet=53439083&amp;newsitemid=20230705068435&amp;lan=en-US&amp;anchor=www.paychex.com%2Fwatch&amp;index=5&amp;md5=08ad277683f39290b33eb88dcc58a83e\">www.paychex.com\/watch<\/a> and <a rel=\"nofollow\" href=\"https:\/\/cts.businesswire.com\/ct\/CT?id=smartlink&amp;url=https%3A%2F%2Fwww.paychex.com%2Femployment-watch%2Fsubscribe%3Futm_source%3Dnews%2520release%26utm_medium%3Dpress%2520release%26utm_campaign%3Dsbew%26utm_term%3Ddata-driven-sbew%26utm_content%3DMay2022&amp;esheet=53439083&amp;newsitemid=20230705068435&amp;lan=en-US&amp;anchor=sign+up&amp;index=6&amp;md5=c860396aa9e594b384137780a91f8de6\">sign up<\/a> to receive monthly Employment Watch alerts.<\/p>\n<p><i>*Information regarding the professions included in the industry data can be found at the <\/i><a rel=\"nofollow\" href=\"https:\/\/cts.businesswire.com\/ct\/CT?id=smartlink&amp;url=http%3A%2F%2Fwww.bls.gov%2Fiag%2Ftgs%2Fiag_index_naics.htm&amp;esheet=53439083&amp;newsitemid=20230705068435&amp;lan=en-US&amp;anchor=Bureau+of+Labor+Statistics+website&amp;index=7&amp;md5=ccec1ea6326f292bdc8f8f8c7ea1a4cd\"><i>Bureau of Labor Statistics website<\/i><\/a><i>.<\/i><\/p>\n<p><b>About the Paychex | IHS Markit Small Business Employment Watch<br \/>\n<br \/><\/b>The Paychex | IHS Markit Small Business Employment Watch is released each month by Paychex, Inc., a leading provider of payroll, human resource, insurance, and benefits outsourcing solutions for small-to medium-sized businesses, and S&amp;P Global Market Intelligence, a Division of S&amp;P Global (NYSE: SPGI), which merged with IHS Markit in 2022 and is a provider of information services and solutions to global markets. Focused exclusively on small business, the monthly report offers analysis of national employment and wage trends, as well as examines regional, state, metro, and industry sector activity. Drawing from the payroll data of approximately 350,000 Paychex clients, this powerful tool delivers real-time insights into the small business trends driving the U.S. economy.<\/p>\n<p><b>About Paychex<br \/>\n<br \/><\/b>Paychex, Inc. (Nasdaq: PAYX) is an industry-leading HCM company delivering a full suite of technology and advisory services in human resources, employee benefit solutions, insurance, and payroll. The company serves approximately 740,000 customers in the U.S. and Europe and pays one out of every 12 American private sector employees. The more than 16,000 people at Paychex are committed to helping businesses succeed and building thriving communities where they work and live. To learn more, visit <a rel=\"nofollow\" href=\"https:\/\/cts.businesswire.com\/ct\/CT?id=smartlink&amp;url=https%3A%2F%2Fwww.paychex.com%2F&amp;esheet=53439083&amp;newsitemid=20230705068435&amp;lan=en-US&amp;anchor=paychex.com&amp;index=8&amp;md5=e45335ca8b7e565306300228050abccb\">paychex.com<\/a> and stay connected on <a rel=\"nofollow\" href=\"https:\/\/cts.businesswire.com\/ct\/CT?id=smartlink&amp;url=https%3A%2F%2Ftwitter.com%2Fpaychex&amp;esheet=53439083&amp;newsitemid=20230705068435&amp;lan=en-US&amp;anchor=Twitter&amp;index=9&amp;md5=6e200dcc7cdba180f0dc1fb0872d79db\">Twitter<\/a> and <a rel=\"nofollow\" href=\"https:\/\/cts.businesswire.com\/ct\/CT?id=smartlink&amp;url=https%3A%2F%2Fwww.linkedin.com%2Fcompany%2Fpaychex&amp;esheet=53439083&amp;newsitemid=20230705068435&amp;lan=en-US&amp;anchor=LinkedIn&amp;index=10&amp;md5=49a04396b0be7fab5a5eccb530e37947\">LinkedIn<\/a>.<\/p>\n<p><b>About S&amp;P Global Market Intelligence<br \/>\n<br \/><\/b>At S&amp;P Global Market Intelligence, we understand the importance of accurate, deep and insightful information. Our team of experts delivers unrivaled insights and leading data and technology solutions, partnering with customers to expand their perspective, operate with confidence, and make decisions with conviction.<\/p>\n<p>\nS&amp;P Global Market Intelligence is a division of S&amp;P Global (NYSE: SPGI). S&amp;P Global is the world\u2019s foremost provider of credit ratings, benchmarks, analytics and workflow solutions in the global capital, commodity and automotive markets. With every one of our offerings, we help many of the world\u2019s leading organizations navigate the economic landscape so they can plan for tomorrow, today. For more information, visit <a rel=\"nofollow\" href=\"https:\/\/cts.businesswire.com\/ct\/CT?id=smartlink&amp;url=https%3A%2F%2Fwww.spglobal.com%2Fmarketintelligence&amp;esheet=53439083&amp;newsitemid=20230705068435&amp;lan=en-US&amp;anchor=www.spglobal.com%2Fmarketintelligence&amp;index=11&amp;md5=add0fc30bc3b4467bd6d313feb53391c\">www.spglobal.com\/marketintelligence<\/a>.<\/p>\n<p><img decoding=\"async\" alt=\"\" src=\"https:\/\/cts.businesswire.com\/ct\/CT?id=bwnews&amp;sty=20230705068435r1&amp;sid=flmnd&amp;distro=nx&amp;lang=en\" style=\"width:0;height:0\" \/><span class=\"bwct31415\" \/><\/p>\n<p id=\"mmgallerylink\"><span id=\"mmgallerylink-phrase\">View source version on businesswire.com: <\/span><span id=\"mmgallerylink-link\"><a href=\"https:\/\/www.businesswire.com\/news\/home\/20230705068435\/en\/\" rel=\"nofollow\">https:\/\/www.businesswire.com\/news\/home\/20230705068435\/en\/<\/a><\/span><\/p>\n<p><b>Media<br \/>\n<\/b><br \/>Chris Muller<br \/>\n<br \/>Paychex, Inc.<br \/>\n<br \/>585-338-4346<br \/>\n<br \/><a rel=\"nofollow\" href=\"mailto:cmuller@paychex.com\">cmuller@paychex.com<br \/>\n<\/a><br \/><a rel=\"nofollow\" href=\"https:\/\/cts.businesswire.com\/ct\/CT?id=smartlink&amp;url=https%3A%2F%2Ftwitter.com%2Fpaychex&amp;esheet=53439083&amp;newsitemid=20230705068435&amp;lan=en-US&amp;anchor=%40Paychex&amp;index=12&amp;md5=177d1886940bafe12649b58a4fa70ac9\">@Paychex<\/a><\/p>\n<p>\nKate Smith<br \/>\n<br \/>S&amp;P Global Market Intelligence<br \/>\n<br \/>+1 781-301-9311<br \/>\n<br \/><a rel=\"nofollow\" href=\"mailto:katherine.smith@spglobal.com\">katherine.smith@spglobal.com<\/a><\/p>\n<p><b>KEYWORDS:<\/b> United States North America New York<\/p>\n<p><b>INDUSTRY KEYWORDS:<\/b> Research Accounting Professional Services Business Payments Technology Small Business Data Analytics Science Insurance Human Resources Finance Other Technology<\/p>\n<p><b>MEDIA:<\/b><\/p>\n<table cellpadding=\"3\" cellspacing=\"3\">\n<tr>\n<td><font face=\"Arial\" size=\"2\"><b>Logo<\/b><\/font><\/td>\n<\/tr>\n<tr>\n<td><img decoding=\"async\" src=\"https:\/\/mms.businesswire.com\/media\/20230705068435\/en\/1833588\/3\/Paychex_Blue_Lockup.jpg\" alt=\"Logo\" \/><\/td>\n<\/tr>\n<tr>\n<td><font face=\"Arial\" size=\"2\"><\/font><\/td>\n<\/tr>\n<tr>\n<td><font face=\"Arial\" size=\"2\"><b>Photo<\/b><\/font><\/td>\n<\/tr>\n<tr>\n<td><img decoding=\"async\" src=\"https:\/\/mms.businesswire.com\/media\/20230705068435\/en\/1833589\/3\/june-wage-index-combo.jpg\" alt=\"Photo\" \/><\/td>\n<\/tr>\n<tr>\n<td><font face=\"Arial\" size=\"2\">At 99.21, the national jobs index decreased 0.24% in June, while hourly earnings growth moderated further to 4.02%. (Graphic: Business Wire)<\/font><\/td>\n<\/tr>\n<tr>\n<td><font face=\"Arial\" size=\"2\"><b>Photo<\/b><\/font><\/td>\n<\/tr>\n<tr>\n<td><img decoding=\"async\" src=\"https:\/\/mms.businesswire.com\/media\/20230705068435\/en\/1833591\/3\/job-history.jpg\" alt=\"Photo\" \/><\/td>\n<\/tr>\n<tr>\n<td><font face=\"Arial\" size=\"2\">The jobs index registered 99.21 in June, which is virtually unchanged so far in 2023. (Graphic: Business Wire)<\/font><\/td>\n<\/tr>\n<tr>\n<td><font face=\"Arial\" size=\"2\"><b>Photo<\/b><\/font><\/td>\n<\/tr>\n<tr>\n<td><img decoding=\"async\" src=\"https:\/\/mms.businesswire.com\/media\/20230705068435\/en\/1833592\/3\/wage-history.jpg\" alt=\"Photo\" \/><\/td>\n<\/tr>\n<tr>\n<td><font face=\"Arial\" size=\"2\">A continued deceleration in hourly earnings growth is in line with greater economic patterns and declining inflation. (Graphic: Business Wire)<\/font><\/td>\n<\/tr>\n<\/table>\n","protected":false},"excerpt":{"rendered":"<p>Small Business Jobs Index Dips in June, Rate of Wage Growth Continues to Moderate Leisure and hospitality sector continues to struggle to hire back to pre-pandemic levels ROCHESTER, N.Y.&#8211;(BUSINESS WIRE)&#8211; The rate of small business hiring slowed modestly in June as hourly earnings growth across the U.S. decelerated to 4.02% from 4.24% in May, according to the Paychex | IHS Markit Small Business Employment Watch. The national Small Business Jobs Index \u2014 which measures the rate of small business job growth in the U.S. \u2014 registered 99.21 in June, virtually unchanged so far in 2023. This press release features multimedia. View the full release here: https:\/\/www.businesswire.com\/news\/home\/20230705068435\/en\/ At 99.21, the national jobs index decreased 0.24% in June, while hourly earnings growth &hellip; <\/p>\n<p class=\"link-more\"><a href=\"https:\/\/www.marketnewsdesk.com\/index.php\/small-business-jobs-index-dips-in-june-rate-of-wage-growth-continues-to-moderate\/\" class=\"more-link\">Continue reading<span class=\"screen-reader-text\"> &#8220;Small Business Jobs Index Dips in June, Rate of Wage Growth Continues to Moderate&#8221;<\/span><\/a><\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[],"tags":[],"class_list":["post-767730","post","type-post","status-publish","format-standard","hentry"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.6 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Small Business Jobs Index Dips in June, Rate of Wage Growth Continues to Moderate - Market Newsdesk<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.marketnewsdesk.com\/index.php\/small-business-jobs-index-dips-in-june-rate-of-wage-growth-continues-to-moderate\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Small Business Jobs Index Dips in June, Rate of Wage Growth Continues to Moderate - Market Newsdesk\" \/>\n<meta property=\"og:description\" content=\"Small Business Jobs Index Dips in June, Rate of Wage Growth Continues to Moderate Leisure and hospitality sector continues to struggle to hire back to pre-pandemic levels ROCHESTER, N.Y.&#8211;(BUSINESS WIRE)&#8211; The rate of small business hiring slowed modestly in June as hourly earnings growth across the U.S. decelerated to 4.02% from 4.24% in May, according to the Paychex | IHS Markit Small Business Employment Watch. The national Small Business Jobs Index \u2014 which measures the rate of small business job growth in the U.S. \u2014 registered 99.21 in June, virtually unchanged so far in 2023. This press release features multimedia. View the full release here: https:\/\/www.businesswire.com\/news\/home\/20230705068435\/en\/ At 99.21, the national jobs index decreased 0.24% in June, while hourly earnings growth &hellip; Continue reading &quot;Small Business Jobs Index Dips in June, Rate of Wage Growth Continues to Moderate&quot;\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.marketnewsdesk.com\/index.php\/small-business-jobs-index-dips-in-june-rate-of-wage-growth-continues-to-moderate\/\" \/>\n<meta property=\"og:site_name\" content=\"Market Newsdesk\" \/>\n<meta property=\"article:published_time\" content=\"2023-07-05T13:36:18+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/mms.businesswire.com\/media\/20230705068435\/en\/1833589\/4\/june-wage-index-combo.jpg\" \/>\n<meta name=\"author\" content=\"Newsdesk\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Newsdesk\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"8 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/small-business-jobs-index-dips-in-june-rate-of-wage-growth-continues-to-moderate\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/small-business-jobs-index-dips-in-june-rate-of-wage-growth-continues-to-moderate\\\/\"},\"author\":{\"name\":\"Newsdesk\",\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/#\\\/schema\\\/person\\\/482f27a394d4fda80ecb5499e519d979\"},\"headline\":\"Small Business Jobs Index Dips in June, Rate of Wage Growth Continues to Moderate\",\"datePublished\":\"2023-07-05T13:36:18+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/small-business-jobs-index-dips-in-june-rate-of-wage-growth-continues-to-moderate\\\/\"},\"wordCount\":1569,\"image\":{\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/small-business-jobs-index-dips-in-june-rate-of-wage-growth-continues-to-moderate\\\/#primaryimage\"},\"thumbnailUrl\":\"https:\\\/\\\/mms.businesswire.com\\\/media\\\/20230705068435\\\/en\\\/1833589\\\/4\\\/june-wage-index-combo.jpg\",\"inLanguage\":\"en-US\"},{\"@type\":\"WebPage\",\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/small-business-jobs-index-dips-in-june-rate-of-wage-growth-continues-to-moderate\\\/\",\"url\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/small-business-jobs-index-dips-in-june-rate-of-wage-growth-continues-to-moderate\\\/\",\"name\":\"Small Business Jobs Index Dips in June, Rate of Wage Growth Continues to Moderate - 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