Small Business Hiring Moderates in October

Small business hiring in October has seen some moderation from the previous month, declining by 0.13% nationally to 94.32 according to an index report by Paychex and IHS Markit. October’s figures show a 3.89 decline from the same period last year. 

Since its initial drop in April, the national index has seen an average monthly growth of 0.06% decrease during the past two quarters.  

The Small Business Jobs Index also dipped again in October, coinciding with the recent surge in COVID-19 cases. While hourly earnings growth stood at 2.88% in October, weekly hours worked remained positive, up 0.38 percent

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