• Wed. May 29th, 2024

Small Business Hiring On The Rise Despite Retention Challenges: CBIZ Report

BySamantha Nguyen

Mar 27, 2024
Challenges in small business hiring are starting to improve.

Small businesses in the U.S. are experiencing relief from hiring challenges, according to a report by the CBIZ Small Business Employment Index. In February, the index reported a seasonally adjusted increase of 0.17%, indicating that small businesses are expanding their workforces despite facing difficulties in retaining workers due to constraints like low salaries and limited benefits such as health insurance. The index monitors hiring activities among thousands of companies with 300 or fewer employees nationwide.

The strength of the U.S. economy in the current high-interest-rate environment has led small businesses to steadily increase their hiring during February, according to Anna Rathbun, the chief investment officer of CBIZ. Around 20% of companies in the index hired more employees, while 60% maintained their headcounts and 20% reduced staff. Some industries saw growth in hiring, such as administrative and support services, arts, entertainment, recreation, and technology and life sciences, while others like accommodation and food services, insurance, and utilities experienced declines.

Regionally, the West, Southeast, and Central regions witnessed slight increases in hiring, while the Northeast region saw a slight decline. This hiring trend among small businesses is reflective of the broader market

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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