"Given the critical role played by small businesses in the U.S. economy, the Paychex IHS Small Business Jobs Index provides extremely valuable insights into the employment trends among these small companies"
Paychex, Inc. (NASDAQ: PAYX), a leading provider of payroll, human resource, insurance, and benefits outsourcing solutions for small- to medium-sized businesses, in conjunction with IHS Inc. (NYSE: IHS), a leading global source of critical information and insight, announced today that they will launch a new index examining the state of small business employment in the U.S. on Tuesday, April 1, 2014.
The Paychex IHS Small Business Jobs Index is a monthly, up-to-date measure of change in small business employment in the United States. The index will identify and track small business employment trends by measuring aggregated small business payroll data from the Paychex customer base, and provide timely, accurate insight into national and regional employment activity, as well as report on state and metro employment trends for many of the country’s largest states and markets.
Paychex and IHS will launch the index on April 1 at the NASDAQ MarketSite in New York City by participating in The NASDAQ Stock Market Opening Bell Ceremony, followed by a roundtable event with experts from Paychex and IHS providing in-depth analysis on the state of small business employment in the U.S.
“Paychex is proud to partner with IHS to launch what we believe will be the most timely, accurate, and reliable indicator of small business employment in the United States,” said Martin Mucci, president and CEO of Paychex. “With small businesses representing nearly 95 percent of all businesses in the U.S., we believe tracking the employment trends of Main Street is the best way to gauge the country’s employment picture.”
”Given the critical role played by small businesses in the U.S. economy, the Paychex IHS Small Business Jobs Index provides extremely valuable insights into the employment trends among these small companies,” said Nariman Behravesh, chief economist at IHS.
What you need to know about the Paychex IHS Small Business Jobs Index:
The index is based on up-to-date, aggregated payroll data from approximately 350,000 of Paychex’s small business clients with fewer than 50 workers, a sub-set of the Paychex client base, and one of the largest sample sizes for any small business index or report in the country.
The Paychex IHS Small Business Jobs Index analyzes year-over-year worker count changes, trending the results to reveal movement in small business employment; an upward trend represents a strengthening job market, while a downward trend is a sign of a slowdown.
Small businesses play a pivotal role in the U.S. economy. They account for nearly 95 percent of employers. They are a vital source of entrepreneurship and innovation. Some of the most recognized U.S. brands and most successful U.S. companies started as small businesses just a few decades ago. Understanding changes in small business employment trends provides valuable insights regarding the dynamics of the U.S. economy.
Paychex IHS Small Business Jobs Index Launch Details
Who: Paychex and IHS
What: Launch the Paychex IHS Small Business Jobs Index with a roundtable event featuring leaders from Paychex and IHS, including Martin Mucci, Paychex president and CEO, and Nariman Behravesh, chief economist at IHS.
When: Tuesday, April 1, 2014
10:30 a.m. – 11:30 a.m.
Where: The NASDAQ MarketSite
4 Times Square
New York, NY 10036
RSVP: This event is open to accredited members of the media only. To reserve your space, please contact firstname.lastname@example.org. Seating is limited and reservations are required.
Paychex, Inc. (NASDAQ: PAYX) is a leading provider of payroll, human resource, and benefits outsourcing solutions for small- to medium-sized businesses. The company offers comprehensive payroll services, including payroll processing, payroll tax administration, and employee pay services, including direct deposit, check signing, and Readychex®. Human resource services include 401(k) plan recordkeeping, section 125 plans, a professional employer organization, time and attendance solutions, and other administrative services for business. A variety of business insurance products, including group health and workers' compensation, are made available through Paychex Insurance Agency, Inc. Paychex was founded in 1971. With headquarters in Rochester, New York, the company has more than 100 offices serving approximately 570,000 payroll clients as of May 31, 2013. For more information about Paychex and our products, visit www.paychex.com.
IHS (NYSE: IHS) is the leading source of information, insight and analytics in critical areas that shape today's business landscape. Businesses and governments in more than 165 countries around the globe rely on the comprehensive content, expert independent analysis and flexible delivery methods of IHS to make high-impact decisions and develop strategies with speed and confidence. IHS has been in business since 1959 and became a publicly traded company on the New York Stock Exchange in 2005. Headquartered in Englewood, Colorado, USA, IHS is committed to sustainable, profitable growth and employs 8,000 people in 31 countries around the world.