Paychex: Small business employees worked more hours in October; hourly earnings growth below 3% for 26th month
Key points
- October hourly earnings growth was 2.88%, weekly hours growth 0.11%, weekly earnings growth 3.04%
- Hourly earnings growth has stayed below 3% for 26 consecutive months
- Weekly hours growth has been positive for eight consecutive months; the jobs index rose to 99.21
Paychex's October Small Business Employment Watch showed hourly earnings growth of 2.88%, weekly hours growth of 0.11% and weekly earnings growth of 3.04%. Hourly earnings growth stayed below 3% for a 26th month, and weekly hours growth was positive for an eighth month. The jobs index rose 0.06 points to 99.21.
Original report: Accounting Today ↗Edited with AI assistance. Facts are based on official sources and original reports. For information only; not legal, immigration or insurance advice.