Jill Malandrino, correspondent for TheStreet, explains how the Paychex-IHS Small Business Jobs Index shows increased growth for the 12-month period leading up to June, 2014. According to Martin Mucci, CEO of Paychex, there has been growth of 0.23 percent spread over the 12 months leading to June. He pointed out that the National Index is near an historic high despite the fact that it went down to 101.07. The Index also shows that the mountain region has continued to lead the small business growth rate.
Mucci explained that the high-tech sector is the key to growth in the mountain region with some help from real estate improvements. Washington State and Texas are doing best. In Texas Dallas is ranked as the top performing metro area. Seattle and San Francisco came in second and third place.
When asked why the Mid-Atlantic States don’t show as much growth, Mucci answered that since the eastern seaboard did not crash as hard during the recession, its recovery would not be as dramatic as what we are seeing in the south and south-east.
As far as how small business owners feel about job growth, Mucci said that the small business sector is showing continued optimism about the economic recovery.