Small Business Jobs Index Rises for Third Consecutive Month
Written by Emily J. Thompson, Senior Investment Analyst
Updated: Jun 02 2026
0mins
Source: Newsfilter
- Jobs Index Growth: The Paychex Small Business Jobs Index increased by 0.18 percentage points in May to 99.34, marking its highest level in 2026, indicating a sustained growth trend in small business hiring that boosts market confidence.
- Stable Wage Growth: Hourly earnings growth remained steady at 2.73% in May, while weekly earnings growth rose to 2.98%, the highest since January 2024, demonstrating enhanced competitiveness among small businesses in attracting and retaining employees.
- Diverse Industry Performance: Among the 20 largest states analyzed, 14 reported increases in small business job growth, with Tennessee gaining 1.62 percentage points, particularly strong in manufacturing and construction, highlighting robust recovery in specific sectors.
- Regional Employment Dynamics: Small business job growth increased in 15 of the 20 largest U.S. metros, with Phoenix reclaiming the top rank at 100.95, reflecting regional economic recovery and vitality among small businesses.
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Analyst Views on PAYX
Wall Street analysts forecast PAYX stock price to rise
12 Analyst Rating
0 Buy
10 Hold
2 Sell
Hold
Current: 97.580
Low
110.00
Averages
120.55
High
126.00
Current: 97.580
Low
110.00
Averages
120.55
High
126.00
About PAYX
Paychex, Inc. is a human capital management (HCM) company. The Company is engaged in delivering a full suite of technology and advisory solutions in human resources, employee benefit solutions, insurance, and payroll for clients and their employees in the United States and parts of Europe. It offers integrated HCM solutions covering the employee life cycle for businesses and their employees. It supports its clients through its proprietary Paychex Flex platform, Paycor and the Company's SurePayroll software as a service (SaaS)-based solution. Its services include payroll services, time and attendance, employee benefits, human resources (HR), professional employer organization, talent management, business insurance, and payment processing. Its talent management includes recruiting, hiring and onboarding, performance management, learning and development, compensation management, employee engagement and recognition, employee benefits, among others.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
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- Strategic Implications: The dual positive news of the earnings report and dividend increase signifies Paychex's robust operational strategy in the context of economic recovery, potentially attracting more investor interest and improving the company's stock market performance.
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- Internal Efficiency Gains: Paychex's widespread adoption of AI internally allows developers to focus on user experience, enables sales representatives to close deals more efficiently, and allows service professionals to reduce transactional work, thus improving customer service quality.
- Market Competitiveness: Ranking in the top 20% among 5,000 U.S. companies in the HR Core, Payroll & Benefits category showcases Paychex's ability to create impactful solutions in a rapidly evolving market.
See More
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