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 month-over-month increase in hiring of 1.55 percent in December 2017. This is the strongest reading for the index since June 2017.
Fifty percent of companies in the SBEI did not change their staff totals, while 20 percent decreased headcount and 30 percent increased employee totals. A wide range of industries showed growth during the December 2017 period, including Finance and Insurance, Real Estate, Retail, Accommodation and Foodservices, Manufacturing, Non-Profits, Technology, Wholesale, Education and Healthcare. Arts and Entertainment was the only notable category that declined. Regionally, the Southeast experienced the strongest hiring gains this December, followed by the Central, Northeast and West regions.
A common theme in 2017 was waiting on the possibility of tax reform, and it weighed heavily on small business owners’ minds. Now that tax laws have changed, the impact of the reform has yet to be seen, but it could affect business owners’ hiring decisions in 2018.
The infographic below highlights trends and results from the SBEI.
The SBEI illustration is licensed under a Creative Commons Attribution-NoDerivs 3.0 Unported License.