Hiring challenges for small businesses improve as economy remains robust

In February, the CBIZ Small Business Employment Index reported a positive trend in employment for small businesses. Despite the challenges of high interest rates, hiring woes may be easing for these companies. The index tracks hiring among thousands of companies with 300 or fewer employees across the country and showed a seasonally adjusted increase of 0.17%.

Small businesses have shown unexpected strength in expanding their workforce, according to Anna Rathbun, chief investment officer of CBIZ. In February, 20% of companies in the index hired more staff while 60% maintained their headcounts and 20% cut staff. This reflects the broader market trend where employers added 275,000 jobs in February, surpassing expectations.

The CBIZ index also shows that certain industries saw gains in hiring while others experienced decreases. Industries like administrative and support services, arts, entertainment, and recreation saw gains in hiring while accommodations and food services experienced decreases. Additionally, technology and life sciences also experienced growth in employment opportunities.

Regionally, the West, Southeast, and Central regions saw slight increases in hiring while the Northeast region experienced a slight decline. This small business trend reflects the broader market trend where employers added 275,000 jobs in February

By Sophia Gonzalez

As a content writer at newsgreg.com, I am dedicated to crafting engaging stories that captivate our readers. With a knack for turning complex topics into accessible and compelling narratives, I weave words together to inform and inspire. My passion lies in delivering accurate and thought-provoking content that keeps our audience informed and entertained. From breaking news stories to in-depth features, I strive to bring a fresh perspective to every piece I create. Join me on this journey of exploration and discovery through the power of words at newsgreg.com.

Leave a Reply