Small business growth lagging throughout state
Elyse Kelly The Center Square
July 13, 2021
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Maisch
SPRINGFIELD — Small business growth lags in Illinois, according to a recent report by Paychex which puts the state last in hourly and weekly wage growth among small businesses.
Paychex’s Small Business Watch showed over the last 12 months Illinois’ hourly wage grew 1.7% and weekly wage grew 0.85%. That’s compared to Missouri which grew its hourly wage 4.09%.
Illinois Chamber of Commerce President and CEO Todd Maisch said a preliminary impression of the data suggests Illinois’ reaction to the pandemic may be to blame.
“Illinois could have opened up its economy sooner and consequently been closer to the national average in terms of growth,” he told the Illinois Radio Network