Phoenix Metro Tops Nation In Small Business Wage Growth

PHOENIX, AZ — The Valley paced the nation in April, at least when it comes to small business wage growth.

That's the main takeaway from the April 2021 Small Business Employment Watch study put together by Paychex IHS Markit.

Phoenix's wage growth during the month represented a 5.67 percent jump over where it was a year ago, among companies with 50 or fewer employees.

Arizona, meanwhile, ranked third overall in the same category on a statewide basis, with wages growing four percent across the Grand Canyon State.

Both Phoenix and Arizona ranked third overall in terms of overall job growth in April, increasing 4.6 and 4.9 percent, respectively, according to Paychex's survey.

Overall, Missouri had the largest wage increase of any state in April, jumping 4.84 percent over where they were during the same period of 2020, Paychex said.

Phoenix's average small business hourly wage was $28.26 per hour in April, while Arizona's statewide wage was $27.11 per hour and the national average was $29.09, according to Paychex.

More via the city of Phoenix.