CBIZ Small Business Employment Index Shows Rise in Hiring for Second Straight Month

CBIZ Small Business Employment Index Shows Rise in Hiring for Second Straight Month

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 July, with a seasonally adjusted increase of 1.99%. This rise in hiring is significant and shows small businesses are continuing to fill jobs left vacant due to the pandemic.


In July, 26% of companies increased their headcounts, 54% reported no change to their employment totals and 20% decreased their staffing. Industries with hiring growth included Agriculture, Accommodation and Food Services, Construction and Wholesale Distribution. Hiring had noteworthy declines in Educational Services and Transportation. 


Regionally, hiring saw the most significant rise in the Southeast (3.04%). Hiring also grew in the Northeast (2.36%) and Central (1.89%) regions, while declining in the West (-0.09%). These figures reinforce economic theories that workers were waiting for enhanced unemployment benefits to expire before re-entering the workforce, since most of the states that eliminated the payments lie in the growth regions.

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Phil Noftsinger is Executive Vice President, CBIZ Inc.


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CBIZ Small Business Employment Index Shows Rise in Hiring for Second Straight Monthhttps://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 July reading for the CBIZ Small Business Employment Index, which showed growth for the second straight month. 2021-08-05T16:00:00-05:00Phil Noftsinger, Executive Vice President, CBIZ, Inc., discusses the July reading for the CBIZ Small Business Employment Index, which showed growth for the second straight month. NoneNo