PAYX · News · 20260804N

Small-Business Employment Trends

PAYCHEX INC · 2026-08-04 · Importance 22 · Surprise 32

Paychex’s July 2026 Small Business Employment Watch showed a U.S. small-business jobs index of 99.23, slightly above the first-half average. Hourly earnings increased 2.86%, while weekly hours worked rose 0.40%, described as the highest level in more than five years. Weekly earnings growth accelerated to 3.14%, the strongest reading since December 2023, and manufacturing recorded the strongest job-growth momentum among sectors.

Key facts

• Paychex reported weekly hours worked reached a five-year high in July. source
• Hourly earnings growth for U.S. small businesses in July was 2.86%. source
• Weekly hours worked for U.S. small businesses increased by 0.40% in July. source
• Weekly earnings growth for U.S. small businesses accelerated to 3.14% in July, the strongest performance since December 2023. source
• Paychex reported the U.S. small-business jobs index at 99.23 for July. source