New York’s small business owners are struggling, according to a new survey.
A September Paychex/IHS Small Business Jobs Index survey showed slow and steady job growth at companies with were than 50 employees, but compared with neighboring states, New York ranks last in new small business jobs created.
The national index was 100.44 for the month, and has now been over 100 for 48 months.
“With only four state indices under 100, New York is the lowest at 99.25,” according to the report’s authors. “Down 1.26 percent from September 2014, the New York index has also fallen the furthest during the past year.”
In September, Texas was the top-ranked state, followed by Washington, Georgia, and Tennessee. In the Northeast region, New York trailed states such as Massachusetts, Pennsylvania, Maryland and New Jersey.
“A $15 minimum wage will only make things worse for New York’s small business owners,” says NFIB/NY State Director Mike Durant.
