The CBIZ Small Business Employment Index reported an increase in hiring this December, making this the first month since August 2014 of increasing payrolls. This reading also exceeded the prior two December readings in 2013 and 2012.
Though 51 percent of small business owners did not make changes to their employee totals, 28 percent of companies included in the Index added staff while 21 percent decreased payroll commitments. This reading supports the optimism felt in the November NFIB report which may have translated to additional job growth beyond what is seasonally expected for December; however, there is still reason for caution going forward. Certain sectors that traditionally represent part time employment continue to show growth, indicating a trend toward supplementing income through holding part time or multiple jobs. Thus, as job growth continues, the economic atmosphere will need to support transition from part time labor investments to full time commitments.
The graphic below highlights trends and results from the SBEI. In addition, more information on the SBEI findings can be found here.
The SBEI illustration is licensed under a Creative Commons Attribution-NoDerivs 3.0 Unported License.