CBIZ Small Business Employment Index (SBEI) Shows November Hiring Increase Leading into Holiday Season
The CBIZ Small Business Employment Index (SBEI), which tracks hiring trends among thousands of companies with 300 or fewer employees across the U.S., registered a seasonally adjusted increase in hiring of .26% for November. This is the second consecutive month that seasonally adjusted hiring increased. It is also the third consecutive year of hiring growth in the month of November.
According to November 2019’s data, 53% of companies had no change in their employment numbers, 24% saw an increase and 23% saw a decrease. Breaking the data down by industry, Arts and Entertainment, Non-Profits, Technology, Retail and Healthcare all significantly supplemented their headcounts. The employment numbers for Wholesale Distribution, Utilities, Construction and Professional Services, on the other hand, retreated.
While multiple regions went without notable change in October, only the Northeast remained steady in November. Hiring in the West jumped, while hiring in the Southeast and Central regions pulled back.
Phil Noftsinger is Executive Vice President, CBIZ, Inc.
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