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Virginia small business job growth hits 11-year high

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Posted at 4:45 PM, Jul 05, 2016
and last updated 2016-07-05 16:45:34-04

thinkstockphotos-153983808-1Small business growth has increased 0.79 percent in June, according to the national Paychex | IHS Small Business Jobs Index released on Tuesday.

The index is now at 102.46, which is an 11-year high for Virginia.

This index puts Virginia at number four, among the top five states for small business growth. Virginia hasn’t been included in the top 10 states ranked for this index in over a year.

According to Paychex and IHS, there’s a correlation between increased hiring in the construction industry and small business job growth in the Washington, D.C. metro area, which has an affect on small business job growth in Virginia.

The construction industry is up .52% nationally, and had its strongest gain in more than three years in June.