• Sun. May 26th, 2024

Small Business Hiring on the Rise: CBIZ Data Shows Positive Trends for New York Businesses

BySamantha Nguyen

Mar 27, 2024
Small business hiring difficulties begin to ease as economy remains strong

According to the latest data from the CBIZ Small Business Employment Index, hiring for small businesses in New York is becoming easier. Despite high interest rates, the index showed a seasonally adjusted increase of 0.17% in February, reflecting the overall strength of the U.S. economy. Small businesses typically have a harder time retaining employees due to their inability to offer competitive salaries and benefits like health insurance.

Despite these challenges, small businesses seem to be holding on to their strength, with many expanding their workforces steadily in February. About 20% of companies in the index increased their staff, while 60% made no changes and 20% reduced staff. Some industries saw gains in hiring, including administrative and support services, arts and entertainment, and technology and life sciences. Others experienced decreases, such as accommodation and food services, insurance, and utilities.

Regionally, the West, Southeast, and Central regions saw slight increases in hiring

By Samantha Nguyen

As a content writer at newsqwe.com, I am passionate about crafting engaging and informative articles that captivate our audience. With a background in journalism and a keen eye for detail, I strive to deliver content that is not only well-researched but also adds value to our readers' lives. From breaking news stories to in-depth features, I take pride in my ability to tell compelling stories that resonate with our diverse audience. When I'm not typing away at my keyboard, you can find me exploring new cafes, practicing yoga, or getting lost in a good book. I am thrilled to be a part of the newsqwe.com team and look forward to sharing my love for writing with all of our readers.

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