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 slight decline in the reading for November, with a seasonally adjusted decrease of -0.25%. The downward shift in hiring is consistent with November hiring trends since businesses are more likely to hire for the holiday shopping season in the months prior. 

In November, 21% of companies increased their headcounts, 55% reported no change to their employment totals and 24% decreased their staffing. Industries with hiring growth included Non-Profits, Retail, Professional Services, and Arts and Entertainment. Hiring saw declines in Technology and Life Sciences, Agriculture, Financial Services, and Construction. 

On a regional-level, the significant growth was seen in the West (3.15%) and a small increase in the Central (0.02%) region. The Northeast (-0.07%), and Southeast (-0.11%) both saw a slight hiring decline in November. This month’s data further indicated that the Western region, which was under heavier COVID restrictions, is now rebounding.

Phil Noftsinger is Executive Vice President, CBIZ Inc.

Copyright © 2021, 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.