The CBIZ Small Business Employment Index (SBEI), a barometer for small business hiring trends that surveys labor data from over 4,000 companies employing 300 or fewer people, showed the first decrease in hiring since January, registering a 0.28 percent month-over-month decline in July.
This month, 25 percent of companies increased staff, 51 percent made no change and 24 percent decreased employee totals. The SBEI data revealed that the construction, health care, real estate, financial services and professional services industries saw headcount increases while non-profit, education and transportation realized declines. Additionally, the country was divided this month as the Northeast and Southeast regions increased small business hiring while the West and Central regions decreased hiring.
Looking ahead to the second half of the year, and assuming a strong retail season in the fall and holiday shopping season in December, 2016 could end up being a strong year for the small business labor market.
The graphic below highlights trends and results from the SBEI.
The SBEI illustration is licensed under a Creative Commons Attribution-NoDerivs 3.0 Unported License.