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The busiest jobs week of the month was kicked off by Paychex's (NASDAQ: PAYX) and IHS' (NYSE: IHS) Small Business Jobs Index Tuesday.
July's reading was 101.11, a 0.34 percent improvement from the same period last year, following a 0.23 percent jump in June.
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Related: Exclusive: Paychex CEO Martin Mucci Reveals 2 Elements Of The Growth Story
Although Washington state continues to lead the index, Paychex noted that Michigan’s growth was especially strong with employment conditions improving by 1.3 percent year over year. Michigan neighbor Illinois, on the other hand, has been especially weak in 2014 and gave up an additional 50 basis points in July.
Paychex CEO Martin Mucci commented on the growth, "July's index results show that small business employment growth is picking up once again, continuing the long-term trend we've been seeing for some time now."
Note Michigan's unemployment rate below.
Crypto Whales Are Loading Up — Are You?
New research shows the biggest crypto buyers are back. And this time? They could hold for the possibility that Bitcoin will surpass $100,000 in 2024. You don’t want to miss the next massive crypto bull run like we saw in 2020 and 2021. To know exactly what’s going on and what to buy… Get Access To Benzinga’s Best Crypto Research and Investments For Only $1.