The Seattle area ranked No. 1 in the nation for small business job growth in November, according to a recent report.

That growth bodes well for the coming year as job growth affects multiple sectors, including the office and housing markets. Small business employment is an important indicator of the health and direction of the economy, according to Paychex | IHS Markit Small Business Employment Watch.

Seattle ranked ahead of Denver, Philadelphia, Atlanta and Houston, Seattle Business Magazine reports.

Washington state ranked No. 2 among the states for small business job growth rates, following Tennessee. The state also ranked high for overall wage growth.

While Seattle was growing in both small business jobs and wages, there was a decline in job and wage growth nationally. National employment growth is at the slowest pace since 2011.