The CBIZ Small Business Employment Index (SBEI)
, a barometer for small business hiring trends that surveys approximately 4,000 companies employing 300 or fewer people, reported a 0.35 percent decrease in hiring this September. This means that every SBEI report in the third quarter posted declines.
Forty-eight percent of companies in the SBEI did not make employment changes, 27 percent cut headcounts and 25 percent bolstered their staff count. Industries which posted declines in September include Arts and Entertainment, Insurance, Retail, Scientific
while those which increased include Education
, Transportation, Utilities and Construction. Additionally, most regions reported flat hiring, except for the Southeast, which experienced the most notable impact from the hurricanes, posting a 1.15 percent decline for the month.
While it's unclear whether the impact on hiring from Hurricanes Harvey and Irma will be long-lasting, it is difficult to determine whether this report is truly indicative of the economic situation, as natural disasters have interrupted hiring patterns.
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.