Job Index Shows Michigan Leader In Small Business Hiring
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.
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.
© 2017 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.