Phoenix Hits The Top 5 in Small Business Wage Gains | https://www.phoenix.gov/newsroom/ced/2294 | Community and Economic Development | | 3/30/2022 2:00:00 PM | https://www.phoenix.gov/newssite/Lists/NewsArticle/Attachments/2294/AdobeStock_Licensed-265809361.jpeg | | Phoenix Hits The Top 5 in Small Business Wage Gains | <div class="ExternalClass042A2BE9D3644E41B5F1404EA7B5D8E9"><html>
<p></p>
<span id="ms-rterangepaste-start"></span>
<p>A 4.7 percent average gain in weekly small business earnings placed Phoenix fifth in the nation for year-over-year wage growth in the March 2022 Paychex IHS Markit Small Business Employment Watch.</p>
<p style="text-align:center;">
<em>By Eric Jay Toll for the PHXNewsroom</em>
</p>
<p>Metro area average weekly earnings approached $993, just shy of the western states’ average of $1,036. Phoenix’s average small business hourly wage climbed 5.1 percent to $29.70 when comparing March 2022 to March 2021, ranking seventh among metropolitan areas in the U.S.</p>
<p>Paychex IHS Markit publishes a monthly report based on data collected from companies using Paychex to manage small business payrolls. Phoenix small businesses have been pushing up the average paycheck over the past year.</p>
<p>Last March, the Valley ranked 17th when compared to March 2020, with an average weekly wage of $930. By July 2021, year-over-year data showed the average weekly earnings moved up to $949. By December, the average small business weekly wages hit $963, and Phoenix moved into the top ten among U.S. metro areas.</p>
<p>Arizona ranked fourth in the nation with small business upping weekly wages by 4.5 percent over last year. The statewide average wage is $946 per week. The average U.S. small business pays $29.99 per hour, still more than the Phoenix metro area. Statewide the average is $28.63.</p>
<span id="ms-rterangepaste-end"></span>
<p></p>
</html></div> | https://www.phoenix.gov/econdev | News | | ced | A server is placing meals in front of a group of diners in a small business | CED | | | | #phoenix #economy #smallbusiness #economicdevelopment #workforce #jobs #careers #hiting #unemployment #employment | phoenix, economy, economic development, small business, workforce, wages, earnings, payroll | Eric Jay Toll | 602-617-3797 | | | | eric.toll@phoenix.gov | https://www.phoenix.gov/newssite/Lists/MediaContact/Attachments/52/Eric_Toll.jpg | | | | | | | | PHXEconDev | |