As 2021 drew to a close, the average hourly wage at small businesses locked in at $30, according to the Paychex IHS Markit Small Business Employment Watch.
The December data shows hourly earnings growth improving to 4.27%, which is the highest level since Paychex began reporting 10 years ago.
Hiring at small businesses also closed 2021 on an optimistic stat, improving 7.31% from the prior year, according to the same report.
Hourly Wages at Small Businesses Hit Record Level in December
Paychex CEO Martin Mucci summed the stats.
“Employers are responding to the pressure of the tight labor market by raising wages, and workers are benefitting,” Mucci said.
Dispatches From The Front 