Small Business Job Growth Moderates in June as Wages Hold Steady, Paychex Says (2024)

FAQs

Small Business Job Growth Moderates in June as Wages Hold Steady, Paychex Says? ›

The Paychex Small Business Employment Watch indicated hourly earnings growth held steady in June (3.16%) compared to May (3.13%). Weekly earnings growth (2.96%) improved for the third month in a row, but the increases have been marginal (0.03%).

Jobs growth refers to the net increase in the number of nonfarm payrolls during the previous month. This number is widely followed because employment is crucial for economic performance. Bigger gains suggest growth above the trend, while smaller ones or outright losses may signal a slowdown.

We're a company for sure, but we'll feel like a community. At Paychex, putting good to work reflects our approach to corporate responsibility. It's empowering our Employees through well-being, inclusion, and diversity. It's giving back and making a positive impact in our communities.

An expected growth rate of 9 to 13 percent is considered a good job outlook because it indicates an increase in job openings but at a slightly slower growth rate. And a projected growth rate of 14 percent or more means that a particular occupation is growing at a pretty good rate, which is great news for you.

How is the Job Market Right Now in 2024? Although there is still a labor shortage due to open jobs, there has been a steady decline in employees leaving their current job, creating stability in what has been a volatile market.

Paychex Reviews FAQs

Paychex has an overall rating of 3.5 out of 5, based on over 5,140 reviews left anonymously by employees. 58% of employees would recommend working at Paychex to a friend and 56% have a positive outlook for the business. This rating has decreased by 5% over the last 12 months.

Paychex employee benefits administration includes services like group health insurance, retirement services, flexible spending accounts (FSAs), health savings accounts (HSAs), dental and vision insurance, and other ancillary benefits.

We will be the leading provider of payroll, human resource, and employee benefit services by being an essential partner with America's businesses. The workplace as we know it is changing.

Benefits of career growth for employees

That means focusing on growth can help employees explore their passions, earn more money, get a promotion, or gain more responsibility. Ultimately, it may improve their general happiness and well-being and give them a sense of purpose.

Those who invest in their personal growth in the workplace can further develop interpersonal skills , which can help them foster stronger relationships with their coworkers and customers. When you work on improving yourself, you become a happier individual who others enjoy being around.

Why is job enlargement important? ›

Job enlargement is important because it helps employees gain a broader range of skill and experience by widening their range of tasks and reducing monotony and boredom due to repetitive tasks, thus increasing job satisfaction.

The strength of the job market is considered one important measure of the current health of the broader economy. If more jobs are being created and demand for labor is high, it tends to reaffirm the presence of an expanding economy.