PAYX · News · 20260804N

Market Demand Trends

PAYCHEX INC · 2026-08-04 · Importance 17 · Surprise 24

The Paychex Small Business Employment Watch indicated that U.S. small-business employment remained steady in July, with the jobs index at 99.23, slightly above the first-half average. Small businesses appeared to be relying on existing employees and increasing weekly hours rather than materially expanding headcount to meet demand. Weekly hours worked reached their highest level in more than five years, supporting 3.14% weekly earnings growth, while hourly earnings growth remained below 3%. Manufacturing showed the strongest job-growth momentum among the reported sectors.

Key facts

• Paychex's stock was down about 21% over the last 12 months. source