Paychex: US small business jobs index holds near 2026 average in September
PAYX•Paychex said its U.S. small business jobs index rose 0.02 percentage points to 99.15 in September, near the 2026 year-to-date average of 99.19. Hourly earnings growth was 2.78%, while weekly earnings growth remained positive as hours worked increased.
1. September hiring and wages
Paychex’s September Small Business Employment Watch showed the U.S. small business jobs index rose 0.02 percentage points to 99.15, close to the 2026 year-to-date average of 99.19. Hourly earnings growth held below 3% at 2.78%, extending a more than two-year slowdown in wage gains, while weekly earnings growth remained positive, supported by an increase in hours worked.
