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, reported a strong month for hiring, showing a 1.66 percent month-over-month increase since February.
In March, 30 percent of companies in the SBEI increased employee totals, 52 percent made no change, and only 18 percent cut headcounts. Nearly every industry in the SBEI – including Real Estate, Accommodation and Food Services, Retail, Construction, Transportation, Health Care, Education and Arts and Entertainment – increased their staffs, with the exception of those companies in the Nonprofit sector. Regionally, each area of the country saw employment gains.
As we look toward the second quarter and beyond, small business owners are going to hang their hats on promised policy changes. Corporate tax reform has a large potential to impact business owner sentiment and impact hiring fluctuations.
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.