Sun. Jun 16th, 2024
Challenges in small business hiring are starting to improve due to a stable economy

Despite high interest rates, small businesses are expanding their workforces in the strong U.S. economy, according to the CBIZ Small Business Employment Index. In February, there was a seasonally adjusted increase of 0.17%, indicating that small businesses are hiring more staff.

Small businesses often struggle to retain workers due to their inability to offer higher salaries or benefits like health insurance. The CBIZ index tracks hiring trends among thousands of companies with 300 or fewer employees nationwide.

In February, 20% of companies in the index hired more staff, while 60% made no changes to their headcounts and 20% cut staff. Some industries, such as administrative and support services, arts, entertainment, recreation, and technology and life sciences, saw hiring gains. On the other hand, industries like accommodation and food services, insurance, and utilities experienced decreases in hiring.

Regionally, the West, Southeast, and Central regions saw slight increases in hiring, while the Northeast region saw a slight decline. This trend in small business hiring aligns with the broader market trend. In February

By Aiden Nguyen

As a content writer at newscholarly.com, I delve into the realms of storytelling with the power of words. With a knack for research and a passion for crafting compelling narratives, I strive to bring forth engaging and informative articles for our readers. From decoding complex concepts to unraveling current events, I aim to captivate and educate through the art of writing. Join me on this journey as we explore the ever-evolving landscape of news and knowledge together.

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