CBIZ Small Business Employment Index Showed Small September Hiring Increase

CBIZ Small Business Employment Index Showed Small September Hiring Increase

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 modest increase in the reading for September, with a seasonally adjusted gain of 0.21%. The slight gain in hiring trends is a good sign for the labor market, as September is traditionally a month where hiring slows due to students returning to school from the summer break. Unemployment benefits were also eliminated in September, and could have played a factor in the increase in hiring trends.

In September, 22% of companies increased their headcounts, 52% reported no change to their employment totals and 26% decreased their staffing. Industries that experienced notable hiring growth included Educational Services, Accommodations and Food Services, Transportation, and Non-profit. Hiring saw declines in Arts and Entertainment, Retail, and Healthcare.

On a regional-level, the Northeast was the only region to show a decline (-.51%). A significant increase in hiring was seen in the West (2.34%) likely due to their full reopening. The Central region, still battling the Delta variant, was flat with a (.01%) growth, and the Southeast showed a (.32%) increase. This month’s data suggests enhanced unemployment benefits were not the leading cause of the tight market. The mild growth could be attributed to the benefits that expired in September, but it’s clear that there may be other factors at play.

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Phil Noftsinger is Executive Vice President, CBIZ Inc.


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CBIZ Small Business Employment Index Showed Small September Hiring Increasehttps://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 September reading for the CBIZ Small Business Employment Index, which showed a slight increase following the previous month’s declines.2021-10-06T16:00:00-05:00Phil Noftsinger, Executive Vice President, CBIZ, Inc., discusses the September reading for the CBIZ Small Business Employment Index, which showed a slight increase following the previous month’s declines. NoneNo