U.S. Small Business Employment Trends Hold Steady in October
Key Highlights
- ➤National small-business jobs index rose 0.06 points to 99.21 in October
- ➤Hourly earnings growth held below 3% for the 26th consecutive month
- ➤Weekly hours worked increased 0.11%, extending positive growth to eight consecutive months
- ➤Arizona led state job growth at 100.85 for the third consecutive month
- ➤Education and Health Services remained the top small-business job-growth sector
Expert Statements
John Gibson, President and CEO of Paychex
“Job growth among small businesses with fewer than 50 employees has been largely unchanged over the last year, as employers continue to find ways to meet demand with the teams they have in place.”
John Gibson, President and CEO of Paychex
“Weekly hours worked growth has remained positive for eight consecutive months, a trend that signals businesses are generating greater output from their existing workforce while remaining disciplined about adding headcount.”
John Gibson, President and CEO of Paychex
“Despite an evolving macroeconomic environment and ongoing challenges finding qualified workers, our customers continue to demonstrate resilience, with slightly stronger job growth among businesses with more than 50 employees.”
John Gibson, President and CEO of Paychex
“Overall, the labor market remains fundamentally solid.”
ROCHESTER, N.Y., Nov. 03, 2026 (GLOBE NEWSWIRE) -- According to the Paychex Small Business Employment Watch, job growth among U.S. small businesses with fewer than 50 employees held steady in October. Hourly earnings growth remained below three percent for the 26th consecutive month, while weekly hours worked growth was positive for an eighth consecutive month, as employers continue to meet demand by increasing hours among their existing workforce.
“Job growth among small businesses with fewer than 50 employees has been largely unchanged over the last year, as employers continue to find ways to meet demand with the teams they have in place,” said John Gibson, Paychex president and CEO. “Weekly hours worked growth has remained positive for eight consecutive months, a trend that signals businesses are generating greater output from their existing workforce while remaining disciplined about adding headcount. Despite an evolving macroeconomic environment and ongoing challenges finding qualified workers, our customers continue to demonstrate resilience, with slightly stronger job growth among businesses with more than 50 employees. Overall, the labor market remains fundamentally solid.”
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