CBIZ Small Business Employment Index Shows Hiring Growth in March
- Domestic economic expansion supports mild small business hiring -
“Seasonally, the March timeframe is a period of hiring,” says
ADP and Moody’s Analytics reported Wednesday that the private sector posted an increase of 129,000 jobs month-over-month on a seasonally adjusted basis. Small businesses accounted for 6,000 of those jobs.
To view an infographic with data from the employment index, visit the
Additional takeaways from the March SBEI include:
- March’s snapshot: When compared to the February SBEI, 26
percent of companies increased headcounts, 55 percent refrained from
making labor changes and 19 percent decreased employee totals. Since
the SBEI’s inception in
June 2009 , the March reading has averaged a hiring increase within the small business sector. - Industries at a glance: Of the industries featured in the index, Arts and Entertainment, Construction, Transportation, Healthcare, Non-Profits, and Retail Trade posted job growth. Conversely, Real Estate and Financial Services posted employment declines.
- Geographical hiring: In March, the Northeast, Southeast, Central and West regions all experienced hiring increases of 1.62 percent, 1.38 percent, 1.22 percent and 0.31 percent, respectively, on a non-seasonally adjusted scale.
- What’s next? Continued domestic economic expansion is providing support for small business owners to elect to invest in more labor. This trend should continue as demand remains steady.
CBIZ Payroll Services manages payroll services for more than 4,000
businesses. Its index reflects a broad array of industries and
geographies corresponding to the markets across the U.S. where
Editor’s note:
(1) The SBEI illustration is licensed under a
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Source:
Simone Brownlee
Desk: 610-228-2096
simone@gregoryfca.com
Gregory
FCA for CBIZ,
Inc.