Growth in Small Business Hiring Remains Sluggish
Business services provider CBIZ, Inc. released its small business employment index this morning. The index tracks hiring trends in companies with fewer than 300 workers.
Following this morning’s report that non-farm payrolls grew by just 115,000 jobs, it’s probably no surprise that small business growth is also sluggish. The CBIZ index rose just 0.5% in April, following a rise of 1.66% in March. Of the companies surveyed, 22 % reported a headcount increase while 25% reported a decrease.
A CBIZ executive noted that in addition to showing virtually no hiring growth, the index also indicates that small businesses are adopting a “more strategic hiring practice”:
Individuals who lack experience or specific skills may not be considered for positions, as the employer would have to spend time training those employees. Small business owners are likely looking for new associates who can provide immediate productivity in the function that needs attention.