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March 5, 2020

CBIZ Small Business Employment Index (SBEI) Sees Hiring Flatten in February

The CBIZ Small Business Employment Index (SBEI), which tracks hiring trends among thousands of companies with 300 or fewer employees across the U.S., reported a seasonally adjusted decline of 0.39% for February. Following an increase of 1.61% in January, the February reading aligns with historical trends from the SBEI data. 

Among companies in the CBIZ SBEI, 20% of companies boosted their employment numbers, while 54% reported no change and 26% decreased staffing totals. From an industry standpoint, hiring increased in Administration and Support Services, Educational Services, Technology and Life Sciences and Non-Profits. It decreased in Arts and Entertainment, Insurance, Wholesale Distribution and Accomodation and Food Services. 

The West was the only region to increase hiring in the month. The Central, Southeast and Northeast regions each observed a hiring decrease.

 

 


Phil Noftsinger is Executive Vice President, CBIZ Inc.


Copyright © 2019, CBIZ, Inc. All rights reserved. Contents of this publication may not be reproduced without the express written consent of CBIZ. This publication is distributed with the understanding that CBIZ is not rendering legal, accounting or other professional advice. The reader is advised to contact a tax professional prior to taking any action based upon this information. CBIZ assumes no liability whatsoever in connection with the use of this information and assumes no obligation to inform the reader of any changes in tax laws or other factors that could affect the information contained herein.

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