The CBIZ Small Business Employment Index (SBEI), which tracks hiring trends among thousands of companies across the U.S. with 300 or fewer employees, saw a gain in the reading for June, with a seasonally adjusted increase of 0.34%. This rise is in line with historical hiring trends cycling into the summer months.
In June, 30% of companies increased their headcounts, 53% reported no change to their employment totals and 17% decreased their staffing. Industries with hiring growth included Financial Services, Arts and Entertainment, Construction, Non-Profits, Manufacturing, and Accommodation and Food Services. Yet, hiring had noteworthy declines in Educational Services, Insurance and Transportation.
Regionally, hiring jumped in the Northeast U.S. (2.77%), illustrating its broader economic reopening and potentially pointing to more growth in the next quarter. Hiring also grew in the Central (0.09%) U.S. It declined in the West (-0.79%) and Southeast (-0.17%).
Phil Noftsinger is Executive Vice President, CBIZ Inc.
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