The CBIZ Small Business Employment Index (SBEI), which tracks hiring trends among thousands of companies across the U.S. with 300 or fewer employees, reported a 0.32% seasonally adjusted gain in small business hiring in December 2020. This growth reflects positively on the small businesses landscape, considering the recent third surge in coronavirus cases.
The index reported that 27.63% of companies heightened headcounts. Conversely, 51.52% reported consistent hiring levels and 20.85% decreased staffing. Looking at specific industries in the index, hiring increased in Healthcare, Financial Services, Real Estate, Non-Profits and Retail Trade, but declined in Technology and Life Sciences, along with Transportation. Hiring also decreased in Accommodation and Food Services, potentially due to pandemic-related restrictions.
Among the U.S. regions surveyed, the Northeast had the biggest boost in hiring, followed by the Southeast and West. The Central region, however, reported a mild hiring decline.
Phil Noftsinger is Executive Vice President, CBIZ Inc.
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