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 0.44 percent increase in hiring in November. This is the first positive reading for the SBEI following a four-month decline.
Fifty-two percent of companies in the SBEI did not change their staff totals, 22 percent reduced their headcounts and 25 percent increased their total employees count. Industries which posted declines in November include Financial Services
, Transportation, Accommodation & Food Services and Real Estate.
Construction remained flat while Non-Profits
, Arts & Entertainment, Healthcare
, Retail and Manufacturing increased their headcounts. Regionally, the West experienced strong hiring growth, while the Southeast and Central grew mildly and the Northeast saw a decline.
The November SBEI boosts optimism for continued small business hiring as we close out the year. Tax reform continues to look like a possibility over time, and as a result, business owners are interested in increasing their staff totals.
An infographic with trends and results from the SBEI is included below:
The SBEI illustration is licensed under a Creative Commons Attribution-NoDerivs 3.0 Unported License.