• Fri. May 24th, 2024

Small Businesses Shed Light on U.S. Job Market Trends through Hiring Numbers

BySamantha Nguyen

Mar 27, 2024
Challenges in small business hiring are starting to improve.

Amidst challenges in retaining workers due to constraints like low salaries and limited benefits such as health insurance, small businesses in the U.S. are experiencing some relief from hiring challenges. In February, the CBIZ Small Business Employment Index reported a seasonally adjusted increase of 0.17%, indicating that small businesses are expanding their workforces despite these difficulties. The index monitors hiring activities among thousands of companies with 300 or fewer employees nationwide.

According to Anna Rathbun, the chief investment officer of CBIZ, the strength of the U.S. economy in the current high-interest-rate environment has led small businesses to steadily increase their hiring during February. Around 20% of companies in the index hired more employees, while 60% maintained their headcounts and 20% reduced staff. Some industries saw growth in hiring, such as administrative and support services, arts, entertainment, recreation, and technology and life sciences, while others like accommodation and food services, insurance, and utilities experienced declines.

Regionally, the West, Southeast, and Central regions witnessed slight increases in hiring, while the Northeast region saw a slight decline. This hiring trend among small businesses is reflective of the broader market, where U.S. employers added 275,000 jobs in February

By Samantha Nguyen

As a content writer at newsskio.com, I weave words to craft compelling narratives that captivate readers and bring stories to life. With a keen eye for detail and a passion for storytelling, I strive to create engaging and informative content that resonates with our audience. Whether I'm delving into the latest news trends or exploring unique angles on various topics, my goal is to deliver quality content that informs, entertains, and inspires. Join me on this journey as we uncover the news stories that matter most.

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