E.J. Antoni: Paychex small business jobs index remains below 100 for 17th month

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30.09.2026

E.J. Antoni: Paychex small business jobs index remains below 100 for 17th month — Paychex index signals weak job growth

E.J. Antoni reports that the Paychex small business jobs index increased fractionally for September but continues to stay below the 100 threshold for the seventeenth consecutive month.

This prolonged period below 100 suggests there has been no net job growth among small businesses during this time.

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Antoni previously reported that initial U.S. unemployment claims are slightly above 200,000, noting the persistence of steady hiring activity despite recent firings in the labor market here. He also covered an update to the federal funds rate forecast by CLV Fed, which was based on seven specific monetary rules here. These updates provide context for current readings on small business job growth.

This material may contain third-party opinions, none of the data and information on this webpage constitutes investment advice according to our Disclaimer. While we adhere to strict Editorial Integrity, this post may contain references to products from our partners.

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