Small-business job growth in October was 100.06, according to the Paychex Small Business Employment Watch, a monthly report on businesses with fewer than 50 workers.
The report analyses of national employment and wage trends and examines regional, state, metro, and industry sector activity.
Hourly earnings growth was 3.02 percent while and weekly earnings growth remained below 3 percent for the ninth consecutive month.
The jobs index in Florida and North Carolina fell, reflecting the impact of hurricanes.
“Given the near real-time nature of our data collection, we can already see the unfortunate aftereffects of Hurricanes Milton and Helene on small businesses in Florida and North Carolina,” John Gibson, Paychex president and CEO, said. “The immediate devastation can clearly be seen in notable employment and hours worked growth drops in both states. However, we anticipate a rebound in local jobs and hours worked over the next several months, as well as an increase in job opportunities for workers in surrounding areas to assist in the rebuilding efforts.”
The top region for small-business employment growth was the Midwest the fifth consecutive month, reaching 100.79 on the index. Strong gains in education and health services in Indiana, Michigan, Ohio, and Wisconsin contributed most to job growth.