CBIZ Small Business Employment Index reveals a slowdown in June job growth
The CBIZ Small Business Employment Index (SBEI), which tracks hiring trends among thousands of companies that employ 300 or fewer employees across the U.S., reported a month-over-month seasonally adjusted decrease in hiring of 1.16 percent in June, following an increase in hiring of 0.49 percent in May.
Twenty-six percent of companies in the SBEI increased employee headcounts in June while 49 percent made no change and 25 percent decreased their ranks. Additionally, Real Estate, Construction and Wholesale Distribution all showed gains. Educational Services, Non-Profits, and Accommodations and Food Services showed declines.
The June SBEI usually shows a strong period of hiring for small businesses. However, the June SBEI showed that small business owners may have slowed hiring because of a very tight job market combined with a “skills gap” that makes it hard for firms to grow their staffs.