Florida ranks third for small-business job growth, despite a slight decline in its rate from last year, according to one report.
A study by human resources company Paychex and information provider IHS Markit shows that Florida trails only Tennessee and Washington in an index that measures small-business growth. But the report also shows its job growth rate declined nearly 1 percent since last year, despite broader gains in the economy.
The report’s Small Business Jobs Index, which measures change in U.S. small-business employment, dropped 0.78 percent for the year. Yet, overall hourly earnings increased 2.76 percent since last year, and averaged a growth rate of 2.85 percent for 2017, up from 2.75 percent in 2016.
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Source: Keith LarsenReporter, South Florida Business Journal