US Small Business Hiring Slows Down in August

Small-business hiring showed a slowdown for the sixth consecutive month in August but hourly earnings continue to gain momentum, a report from human resources firm Paychex said Tuesday.

The Small Business Jobs Index declined 0.02 percent from last month and 0.74 percent from a year earlier. Small-business wages continue to rise, reaching a 3 percent, or 76 cents, annual growth rate in August and a 3.27 percent three-month annualized growth rate, Paychex said.



“There was little change in August, signifying the index’s dip below 100 in July was not a fluke,” said James Diffley, chief regional economist at IHS Markit. “Earnings continued to accelerate, with the growth rate now up 3.00 percent from a year ago.”

Paychex said national hourly earnings in August were $25.98, a 7-cent increase from July.

via CNBC

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Alfonso Esparza

Alfonso Esparza

Senior Currency Analyst at Market Pulse
Alfonso Esparza specializes in macro forex strategies for North American and major currency pairs. Upon joining OANDA in 2007, Alfonso Esparza established the MarketPulseFX blog and he has since written extensively about central banks and global economic and political trends. Alfonso has also worked as a professional currency
trader focused on North America and emerging markets. He has been published by The MarketWatch, Reuters, the Wall Street Journal and The Globe and Mail, and he also appears regularly as a guest commentator on networks including Bloomberg and BNN. He holds a finance degree from the Monterrey Institute of Technology and Higher Education (ITESM) and an MBA with a specialization on financial engineering and marketing from the University of Toronto.
Alfonso Esparza