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Arizona is ranked second in the nation in small business wage and job growth according to Paychex and IHS Markit.

In their Small Business Employment Watch, Paychex and IHS Markit ranked Arizona second in hourly earnings and state job growth. Phoenix was also ranked second in both categories in the metro performance area.

鈥淧hoenix is just growing like mad,鈥� Jim Diffley, IHS Markit Chief Regional Economist, said. 鈥淧hoenix sees a lot of in-migration [and] is developing a very diversified economy. So, it’s not surprising that Phoenix appears great on the jobs index.鈥�

In hourly wages, the entire Western United States saw an increase of 3.28 percent, averaging $28.38 an hour.

According to the Diffley, 鈥渢he trend in the country 鈥� which has been a trend in the last decade too 鈥� is fast growing metros of the Sun Belt to be the dynamic part of the U.S. economy.鈥�

Phoenix鈥檚 average hourly earnings are $26.69, a 3.84 percent increase from 12 months ago, and .97 cents more than Arizona鈥檚 overall average of $25.72/hour.

In January, the country saw a -0.96 percent increase in the jobs index.

The Western U.S., however, saw a .06 percent increase with Arizona鈥檚 index increasing .56 percent and Phoenix increasing 1.65 percent.

According to the report Arizona鈥檚 job index is 100.30 and Phoenix鈥檚 is 100.93.

Diffley contributes the growth to Arizona鈥檚 business climate, the state having space that supports growth, and the Southwest being a transportation hub as well as the boom in residential relocations to Arizona.

鈥淕rowth begets growth,鈥� he said. 鈥淓verything stacks up in favor. All the factors are positive for Phoenix, as opposed to the crowding, the high wages, high regulation, etc. in the Northeast and Midwest.鈥�

According to Diffley, Arizona will 鈥渆asily鈥� continue to be among the fastest growing states over the next decade.

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