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Small businesses sustained job growth in December, marking 33 consecutive months of job additions, according to the Paychex Small Business Employment Watch. Other findings: The year-over-year growth of hourly earnings decelerated from a 4.93% increase in December 2022 to a 3.48% increase in December 2023. Paychex CEO John Gibson attributed the resilience of small businesses to their ability to navigate challenges. He also said wage inflation is slowing, suggesting the Federal Reserve’s actions are impacting inflation as intended.
To read more from Staffing Industry Analysts on the report, click here.
By Rebecca Meiser
Contributor, Commerce + Communities Today and Small Business Center
ICSC champions small and emerging businesses in getting from business plan to brick-and-mortar.
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