Small Business Employee Income Reaches New High

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NASHVILLE, TENNESSEE (May 11, 2018) excerpt via CNBC - Small business workers saw their earnings grow at the highest rate in two years, according to a new Paychex report.

Hourly earnings increased by an annual rate of 3.25%, the study found. Among the 50 states, Tennessee placed first for small business job growth, and Arizona saw the highest hourly-wage growth.

"The low unemployment rate is contributing to steady increases in wage growth," Paychex CEO Martin Mucci wrote. "With tightening labor conditions and wages continuing to show positive momentum, business owners and HR managers will need to focus on recruitment and benefit strategies to attract and retain qualified talent."

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