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The Southern Small Business Leads the Nation to Employment Growth, According to the Index

Southern small businesses led the nation in the month of job growth. But it can be one of the only good news of a recent employment index. Overall employment growth among US small businesses continues to be on the decline.

According to the November Paychex | Markit IHS Survey on Job Monitoring in Small Businesses This is the ninth month in a row that job growth in small businesses has declined.

November 2017 Employment Statistics for Small Businesses

The Small Business Employment Watch uses an exclusive index in which 100 indicates an average growth in employment. In November, the index lost 3 hundredths of a percent from October to 99.86.

And again, as the number of job creations in small businesses continues to decline, the wages of these jobs are increasing. The survey shows that wages rose 70 cents per hour during this period last year.

The index queries Paychex customers with fewer than 50 employees. It analyzes payroll information, including job totals and earned wages to determine the index number.

"Although this year's monthly declines were small, they persisted," said James Diffley, chief regional economist at IHS Markit in a statement. At 99.86, the jobs index in small firms indicates that employment growth, while stable, is now at the slowest pace since 2011. "

There were still bright spots among the darkness.

In the hurricanes that ravaged Florida, increases in construction and manufacturing led to a rebound in hours worked in November.

On the regional scale, the south was the only region to post above average employment growth. Small businesses had a positive index of 100.54 – although it is still down from the previous month. The Northeast is in a good position for the first time this year.

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Meanwhile, distinguishing specific states, Tennessee led the states in employment growth, followed by Washington and Georgia.

The West has led wages with large numbers. Hourly earnings increased by 3.45% and 3.86% for weekly earnings. But the Midwest slowed any positive momentum with lower gains of 2.32%. Hourly wages were $ 24.65, well below the national average.

Arizona's hourly wages in November led the nation to nearly 5% and seven states had hourly wage growth greater than 3%. Seattle has climbed to the top of the subway rankings for the first time this year in the job category.

Image: Paychex

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