CBIZ Small Business Employment Index Shows September Slowdown in Hiring
Typically, small businesses shed seasonal workers in advance of having a lean labor pool in the fall months. But this year’s 1.0% decrease was a worse mark than the previous five September periods, says
“In addition to trade war winds, the overall political environment doesn’t provide a great deal of predictability regarding future fiscal policy. The
Industries that showed notable declines were Health Care, Professional Services, Retail, Construction, Non-Profits, and
ADP and Moody’s reported Wednesday that the private sector posted an increase of 135,000 jobs in September on a month-over-month, seasonally adjusted basis. Small business jobs gained by 30,000 according to the ADP and Moody’s report, which classifies small businesses as companies with 49 or fewer employees.
The CBIZ SBEI tracks hiring trends for over 3,700 companies that have 300 or fewer employees, providing a broader insight into small business trends.
To view an infographic with data from the employment index, visit the CBIZ blog.
Additional takeaways from the September SBEI include:
September’s snapshot: When compared to the August SBEI, 19% of companies increased headcounts, 48% refrained from making labor changes and 25% decreased employee totals. Since the SBEI’s inception in
Industries at a glance: Of the industries in the index, only Educational Services showed gains. Health Care, Professional Services, Retail, Construction, Non-Profits, and
Geographical hiring: In September, all four geographical regions showed declines, with the Northeast showing the most.
What’s next? Future
View source version on businesswire.com: https://www.businesswire.com/news/home/20191004005020/en/
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