• Tue. May 28th, 2024

Small Businesses Show Unexpected Strength in Hiring Despite Challenging Market Conditions

BySamantha Nguyen

Mar 27, 2024
Hiring challenges for small businesses improve as economy remains robust

In February, the CBIZ Small Business Employment Index reported a seasonally adjusted increase of 0.17%, indicating that small businesses may be easing their hiring woes. Despite the challenges of high interest rates, the U.S. economy remains strong. Small businesses often struggle with retaining workers due to their inability to offer higher salaries or benefits like health insurance. The CBIZ index tracks hiring among thousands of companies with 300 or fewer employees across the country and shows a positive trend in employment.

Small businesses have shown unexpected strength in expanding their workforce, according to Anna Rathbun, chief investment officer of CBIZ. In February, 20% of companies in the index hired more staff, while 60% maintained their headcounts and 20% cut staff. Certain industries saw gains in hiring, such as administrative and support services, arts, entertainment, and recreation, and technology and life sciences. On the other hand, decreases were observed in industries like accommodation and food services, insurance, and utilities.

Regionally, the West, Southeast, and Central regions saw slight increases in hiring, while the Northeast region experienced a slight decline. This small business trend reflects the broader market in the U.S., where employers added 275

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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