The noise characteristics of vertical-cavity surface-emitting (VCSE) lasers are studied by using the Langevin rate equations modified suitably to include the enhanced spontaneous emission occurring in such microcavity lasers. The intensity and frequency noise spectra show the effects induced by suppression of relaxation oscillations. However, such a suppression depends on the output power as well as on transverse dimensions of the VCSE laser. The laser linewidth increases considerably as a result of enhanced spontaneous emission.