Small Businesses Surge Despite Economic Challenges: CBIZ Small Business Employment Index Reveals Seasonally Adjusted Increase in February

Easing of Small Business Hiring Challenges Indicates Continued Economic Strength

Despite the current economic conditions, including high interest rates, small businesses are continuing to expand their workforce. According to the latest data from the CBIZ Small Business Employment Index, there was a seasonally adjusted increase of 0.17% in February. This unexpected strength of the U.S. economy is reflected in the steady growth of small business hiring, as Anna Rathbun, chief investment officer of CBIZ, points out.

One challenge small businesses face in hiring and retaining employees is their inability to offer competitive salaries or benefits such as health insurance. However, despite these challenges, small businesses are still expanding their workforce. The CBIZ index monitors hiring trends among thousands of companies with 300 or fewer employees across the country and provides insight into the state of small business employment.

Different industries are experiencing varying levels of hiring activity, with sectors like administrative and support services, arts, entertainment, and technology and life sciences seeing gains. On the other hand, industries such as accommodation and food services, insurance, and utilities reported decreases in hiring. Regionally, the West, Southeast, and Central regions saw slight increases in hiring while the Northeast region experienced a slight decline due to regional variation in hiring trends that reflect diverse economic landscapes across the country.

This positive hiring trend among small businesses mirrors the broader market as U.S employers added 275

Despite the current economic conditions, including high interest rates, small businesses are continuing to expand their workforce. According to the latest data from the CBIZ Small Business Employment Index, there was a seasonally adjusted increase of 0.17% in February. This unexpected strength of the U.S. economy is reflected in the steady growth of small business…

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