Small Businesses St surprised by Strong Hiring despite High Interest Rates

Improvement in Small Business Hiring Challenges as Economy Remains Robust

Small Businesses Are Hiring More Despite High Interest Rates

New York (AP) – A report by the CBIZ Small Business Employment Index shows that small businesses may be finding it easier to hire new employees, despite high interest rates. The index recorded a 0.17% increase in February, indicating continued strength in the U.S. economy.

Small businesses often struggle to retain workers due to their inability to offer higher salaries or additional benefits such as health insurance. However, the unexpected strength of the U.S. economy has allowed small businesses to steadily expand their workforce during February, according to Anna Rathbun, chief investment officer at CBIZ. About 20% of companies in the index increased their staffing levels in February, while 60% kept their headcounts the same and 20% reduced staff numbers.

The CBIZ index monitors hiring trends among thousands of companies with 300 or fewer employees across the country. It showed that certain industries like administrative and support services, arts and recreation, and technology and life sciences saw hiring gains, while industries like accommodation and food services, insurance, and utilities saw decreases. Regional differences were also noted, with the West, Southeast, and Central regions experiencing slight hiring increases, while the Northeast region experienced a slight decline.

This trend in small business hiring mirrors the broader market where U.S employers added 275,000 jobs in February surpassing expectations despite high interest rates continue to be a challenge for small businesses looking to expand their workforce but this robust job growth showcases resilience of US economy

Small Businesses Are Hiring More Despite High Interest Rates New York (AP) – A report by the CBIZ Small Business Employment Index shows that small businesses may be finding it easier to hire new employees, despite high interest rates. The index recorded a 0.17% increase in February, indicating continued strength in the U.S. economy. Small…

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