CBIZ Small Business Employment Index Showed Hiring Growth in October

CBIZ Small Business Employment Index Showed Hiring Growth in October

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 an increase in the reading for October, with a seasonally adjusted gain of 1.07%. The continued growth in hiring trends is likely due to multiple factors, including the decreasing number of delta variant cases of COVID-19 and an increase in the number of available workers. 

In October, 25% of companies increased their headcounts, 53% reported no change to their employment totals and 22% decreased their staffing. Industries with hiring growth included Accommodations and Food Services, Retail, Construction, and Transportation. Non-profit, Professional Services, and Wholesale Distribution saw hiring declines.

On a regional level, every region of the country saw an increase in hiring, with the most notable change reported in the West (2.09%). The Southeast (1.49%) and Northeast (1.35%) both reported strong hiring gains as well, while the Central saw a 0.61% increase. October’s data suggests strong growth ahead of the busy holiday shopping season and an optimistic outlook for employment.

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Phil Noftsinger is Executive Vice President, CBIZ Inc.


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CBIZ Small Business Employment Index Showed Hiring Growth in Octoberhttps://www.cbiz.com/Portals/0/Gregory FCA/CBIZ-SBEI-DECEMBER-2020-header.jpg?ver=prOi9fHpRaF5vUtXXcHL2Q%3d%3dPhil Noftsinger, Executive Vice President, CBIZ, Inc., discusses the October reading for the CBIZ Small Business Employment Index, which showed an increase for the second straight month.2021-11-04T16:00:00-05:00Phil Noftsinger, Executive Vice President, CBIZ, Inc., discusses the October reading for the CBIZ Small Business Employment Index, which showed an increase for the second straight month. NoneNo