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Paychex To Enhance Its Monthly Jobs Report

Rochester based Paychex says it plans to enhance its Small Business Jobs Index beginning with its report expected Tuesday.

The index uses data collected from the company's 350-thousand small business clients across the country.

Frank Fiorille, Senior Director of Risk Management at Paychex, told WXXI the index will offer more data and analysis on hiring trends nationally, regionally, statewide or by industry

"Some trends and very key important information around employment which is probably the key macro-economic indicator that is watched on a monthly basis."

Fiorille says the monthly index will also focus on eight industries, including construction, manufacturing, utilities, finance, education and tourism.

Paychex will create a national baseline, so that data that can be compared to statewide or regional trends.

"It basically will tell you if the small businesses in that vertical, or industry, are, again, growing, staying the same, or decreasing. That's very interesting if you're a small business in one of those sorts of sectors."

"From a demographic standpoint, region, city, state...we're also able to kind of compare them on a relative basis from a very similar starting point, so that it's relative."

The monthly small business jobs index is produced in cooperation with IHS - a business analytic from Colorado.

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