Paychex: Small Business Hiring Stable in September, Wage Growth Below 3%

NewsData.io · United States · Sep 29, 2026

The September Paychex Small Business Employment Watch shows the jobs index ticked up 0.02 points to 99.15, roughly in line with the 2026 year-to-date average. Hourly earnings growth held at 2.78%, extending more than two years of sub-3% wage increases, while weekly earnings and hours worked both rose for the seventh or more consecutive month. The data suggests small businesses are absorbing demand through existing staff rather than expanding headcount, signaling continued soft hiring conditions in the sub-50-employee segment that staffing firms targeting SMB clients should monitor.