Employment Index Shows Small Business Hiring Decreased In November
Written by Jenna Weiner
CBIZ study shows fewer small businesses hired in November
According to the latest CBIZ Small Business Employment Index, small business owners saw a decrease in the amount of hiring in the month of November after making gains the month before.
The index revealed that small business owners had decreased hiring rates by 0.44 percent during the last month, after making gains of 0.73 and 1.02 percent in October and September, respectively. Out of the 3,093 businesses surveyed, 52.7 percent made no changes to the amount of staff they had. This number was slightly higher than the 50.6 percent that kept its staff the same in October.
"The under 300 employee subset of companies continue to be reticent about growing headcount. While recent announcements have shown hiring trends improving, they include larger employers, which could logically be the early beneficiaries of a recovery," the company said in statement. "Our index tracks the smaller employer, often dubbed our economy’s engine, and this month’s results continue to show no material change to employment dilemma."
While CBIZ's study found a slowdown in hiring, other indexes found that small businesses had actually added jobs. The Intuit Small Business Employment Index revealed that small businesses had added 49,000 new jobs in the month of November, in the latest news for small business.
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