06/02/2026
Our Small Business Jobs Index, which serves as a primary component of the Paychex Small Business Employment Watch, improved for the third consecutive month in May – a first since February 2023. According to our latest report, the national jobs index increased 0.18 percentage points in May to 99.34 and is at its highest level so far in 2026.
Geographically, most states and metros analyzed in our jobs index reported an increase in May, reflecting consistent stability across the U.S. with summer approaching.
Read the full Paychex Small Business Employment Watch report for more data insights and analysis on job and wage trends among U.S. with fewer than 50 employees: https://bit.ly/3QeVukn