Small Business Employment Growth Is on the Rise, According to the Paychex | IHS Small Business Jobs Index - Seite 2

State Employment Trend
Eighteen of 20 states now rank above the national baseline, with only California and Illinois below 100. Ranked second behind Tennessee, Georgia spiked 0.93 percent from the previous month to 103.63. With the strongest 12-month growth rate and the second best one-month growth rate, Virginia is ranked third at 102.78. Florida and Washington round out the top five, with index levels above 102. At 102.25, and ranked third among states in October, North Carolina has dropped 10 spots, decreasing 1.74 percent during the last four months.

Note: Analysis is provided for the 20 largest states based on U.S. population.

Metropolitan Employment Trend
Top-ranked for the third consecutive month at 103.85, Atlanta had a significant 0.93 percent increase in February, its best one-month gain in nearly three years. At 102.28, small business job growth in Washington is at its strongest level since 2005. Ranked 19th last February, Washington improved 2.52 percent during the past 12 months, climbing to third place among metros. After peaking in October at 105.39, Seattle has dropped 3.24 percent to 102.08 and has fallen out of the top three metro areas for the first time in more than three years. Riverside, CA fell 0.74 percent in February, worst among metros, as its index slipped back below the national baseline.

Note: Analysis is provided for the 20 largest metro areas based on U.S. population.

Industry Employment Trend
Financial Activities jumped 0.53 percent in February. With the increase, Financial Activities has a positive three-month growth rate for the first time in 18 months. Up to 101.46, Leisure and Hospitality gained 0.44 percent from the previous month and has the strongest year-over-year growth rate among industries as well. Construction was the only industry to decline in February, down 0.17 percent to 100.95. Construction as a whole has declined 1.50 percent during the past 12 months, but in the South, Construction ranks as one of the strongest industries.

Note: Analysis is provided for eight major industry sectors.

For more information about the Paychex | IHS Small Business Jobs Index, visit the index website. Plus, view and download the February 2017 Paychex | IHS Small Business Jobs Index infographic. Or, sign up to receive monthly alerts on the Paychex | IHS Small Business Jobs Index.