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October 6, 2016

Small business hiring slumps in September

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 a third consecutive decrease in hiring this month, registering a 0.23 percent month-over-month decline.

In September, 25.7 percent of companies increased hiring, 26.2 percent decreased staff and 48.1 percent made no change to their employee totals. The SBEI revealed that the transportation, education, agriculture and construction industries saw growth, while the arts and entertainment, rental and leasing services, non-profit, insurance and retail trade industries decreased headcounts. The Northeast and Central regions decreased headcounts and the West and Southeast grew increased employee totals.

Market uncertainty remains high as the election, overseas banking concerns, worries over the continued impact of Brexit and potential Fed decisions trouble many investors and small business owners. However, as the low price of oil is leaving consumers with discretionary income, the impact of the holiday shopping season on employment numbers remains to be seen.

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.



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