The Paychex Small Business Jobs Index saw a minor decline of -0.02 pts to 99.89 in December and is down -1.32 pts from a year ago. In 2024, the index averaged 2024 which suggests that small business employment saw modest growth through the year.

Education and Health Services was the strongest sector for the seventh straight month at 101.34. Manufacturing was the weakest sector at 98.25, falling -1.82 pts over the last year. Leisure & Hospitality, one of the strongest sectors in the post-pandemic recover, is now the 2nd weakest at 98.65 and has been below 99 for the last six months.