Small Business Performance & Outlook - Small business job index remained relatively stable in 2025 [1] - Continued moderation in wage inflation is observed [1] - Overall, small businesses are healthy [4] - Macro environment is solid, with no signs of recession [4] - Anticipation of tax clarity and easing interest rates going into 2026 [4] Workforce & Cost Management - Same store workforce levels for clients are essentially flat for the quarter [1][2] - Continued challenges in finding qualified employees, particularly in the small end of the market (50 employees and less) [2] - Businesses are actively managing their costs [3] Product Attachment Rates - Clients are not buying as many ancillary attachment products as expected for the quarter [3] - Lower attachment product sales impacted guidance discussions [3]
Paychex CEO: We see challenges in the small-end of the market
CNBC Television·2025-12-20 00:56