Paychex | IHS Small Business Jobs Index to Deliver New Data and Analysis on Small Business Employment Growth
Small business hiring trends for eight major industry sectors, other new statistics to be included
ROCHESTER, N.Y.--(BUSINESS WIRE)-- On September 29, 2015, the Paychex | IHS Small Business Jobs Index (SBJI) will expand its report on the state of small business employment growth by including more data and analysis on hiring trends across the United States and industry sectors.
“Paychex pays one out of every 15 American private-sector employees, providing the opportunity to use real payroll data to gain insight into one of the main drivers of the U.S. economy – small businesses. Unlike other indicators that use survey data, our index harnesses possibly the largest small business dataset available to provide a valuable, leading indicator of change in small business employment growth,” said Martin Mucci, president and CEO of Paychex. “We’re looking forward to adding even greater value to the dialogue on the health of the U.S. economy with the addition of these new features.”
Beginning September 29, the Small Business Jobs Index will expand to include reporting on eight industries sectors, including:
- Trade, Transportation, and Utilities
- Financial Activities
- Professional and Business Services
- Education and Health Services
- Leisure and Hospitality
- Other Services (except Public Administration)
In addition, the index for regional, state, metro, and industry levels will now be reported using a national baseline. By applying the results used to create the national index baseline of 100 across all categories, users will be able to better compare employment activity between regions, states, metros, and industries.
Also, with the inclusion of base-year change reporting, users can continue to analyze each individual dimension or category (i.e. region, state, metro, industry) against its own performance in the 2004 base year, as was possible using the previous methodology.
The one-month and 12-month change rates that have been shared since the index launched in April 2014 will continue to be reported.
The new index features will be available beginning Tuesday, September 29 with the release of September’s Small Business Jobs Index results. For these additions, along with enhanced interactive data analysis, visit www.paychex.com/jobs-index.
About the Paychex | IHS Small Business Jobs Index
The Paychex | IHS Small Business Jobs Index is released each month by Paychex, Inc., a leading provider of payroll, human resource, insurance, and benefits outsourcing solutions for small-to medium-sized businesses, and IHS, Inc., a leading global source of critical information and insight, providing analysis of small business employment trends across the U.S.
The index analyzes same-store, year-over-year worker count changes to identify and track small business employment trends using real small business payroll data from the Paychex client base. The index is based on aggregated data from approximately 350,000 small businesses with fewer than 50 workers across the United States, one of the largest sample sizes of any small business index or report in the country, and provides timely, accurate insight into national, regional, state, metro, and industry employment activity.
Paychex, Inc. (NASDAQ:PAYX) is a leading provider of integrated human capital management solutions for payroll, HR, retirement, and insurance services. By combining its innovative software-as-a-service technology and mobility platform with dedicated, personal service, Paychex empowers small- and medium-sized business owners to focus on the growth and management of their business. Backed by more than 40 years of industry expertise, Paychex serves approximately 590,000 payroll clients across 100 locations and pays one out of every 15 American private sector employees. Learn more about Paychex by visiting www.paychex.com, and stay connected on Twitter and LinkedIn.
About IHS (www.ihs.com)
IHS (NYSE:IHS) is the leading source of insight, analytics and expertise in critical areas that shape today’s business landscape. Businesses and governments in more than 150 countries around the globe rely on the comprehensive content, expert independent analysis and flexible delivery methods of IHS to make high-impact decisions and develop strategies with speed and confidence. IHS has been in business since 1959 and became a publicly traded company on the New York Stock Exchange in 2005. Headquartered in Englewood, Colorado, USA, IHS is committed to sustainable, profitable growth and employs about 8,800 people in 32 countries around the world.
IHS is a registered trademark of IHS Inc. All other company and product names may be trademarks of their respective owners. Copyright © 2015 IHS Inc. All rights reserved.
Source: Paychex, Inc.
Released September 23, 2015