Tag: slightly

Small Business Jobs Index Increases Slightly Driven by Gains in the Northeast and the Construction Industry

ROCHESTER, N.Y., Sept. 29, 2020 /PRNewswire/ — The latest Paychex | IHS Markit Small Business Employment Watch shows a slight increase in hiring from the previous month, rising 0.06 percent nationally and 0.36 percent in the Northeast. The national jobs index stands at 94.44, remaining in line with April’s reading of 94.63. Small business wage growth slowed to 3.14 percent in September, while growth in weekly hours worked maintained a solid pace, up 0.65 percent from last year. Weekly earnings growth held steady at 3.86 percent in September.

“While it was positive to see a slight improvement in September, the national jobs index and small business hiring has remained largely flat over the past several months,” said James Diffley, chief regional economist at IHS Markit.

“We’re starting to see signs of improvement in specific regions, including the Northeast, which was hit particularly hard in the early stages of

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US Weekly Jobless Claims Decline Slightly To 860,000

New claims for US jobless benefits continued inching down last week, the Labor Department said Thursday, though at 860,000 the applications were higher than expected.

The United States saw a surge in workers filing new benefit claims amid the widespread business shutdowns in March to stop the spread of Covid-19, and though that wave is well past its peak, weekly filings remain at levels far above the worst of the 2008-2010 global financial crisis.

However, the latest data show the insured unemployment rate among people eligible for benefits fell 0.7 points to 8.6 percent in the week ended September 12, and the number of people claiming under the Pandemic Unemployment Assistance (PUA) program for those not normally eligible for benefits declined by more than 200,000.

But nearly 29.8 million people continued to receive some form of government aid through the week ended August 29, the latest for which data was

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Small business optimism picks up slightly in August

The NFIB’s Small Business Optimism index rebounded during August to just over 100. Most of the index’s components improved, but economic uncertainty continues to weigh heavily on expansion plans.

Small business owner confidence improving 

  • The topline index improved to 100.2 during August. Overall, small business confidence has partially recovered but remains below the levels registered in the lead-up to the pandemic.
  • The details of the report show that seven of the index’s components improved during the month (notably hiring plans), while two declined: expectations for higher sales and further economic improvement. Capital outlay plans were unchanged.

Economic uncertainty dimming the outlook 

  • Encouragingly, hiring plans over the next three months have now fully returned to pre-pandemic levels. That said, current conditions remain weak, and while 8% of firms reported increasing employment during the month, 20% reported a decrease. Capital spending plans have also not bounced back as quickly, and the percentage
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