• Fri. Jun 14th, 2024

Small Businesses Optimistic Despite Challenges: Hiring Activities on the Rise Despite Staffing Woes

BySamantha Jones

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

The U.S. economy is showing signs of strength, which has led small businesses to increase their hiring activities despite challenges in retaining workers. In February, the CBIZ Small Business Employment Index reported a seasonally adjusted increase of 0.17%, indicating that small businesses are expanding their workforces. The index monitors hiring activities among thousands of companies with 300 or fewer employees nationwide.

According to Anna Rathbun, the chief investment officer of CBIZ, 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. 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, where U.S. employers added 275,000 jobs in February

By Samantha Jones

As a dedicated content writer at newszxcv.com, I bring a passion for storytelling and a keen eye for detail to every piece I create. With a background in journalism and a love for crafting engaging narratives, I strive to deliver informative and captivating content that resonates with our readers. Whether I'm covering breaking news or delving into in-depth features, my goal is to inform, entertain, and inspire through the power of words. Join me on this journey as we explore the ever-evolving world of news together.

Leave a Reply