An unusual time for the month of June as, despite Paychex reporting small business hiring declines, CBIZ is reporting an uptick. According to the “CBIZ Small Business Employment Index (SBEI), which tracks hiring trends among thousands of companies that employ 300 or fewer employees across the U.S”, June hiring increased 1.73% following a 1.73% increase in May. This is based on more than 4,000 businesses which uses the company’s payroll services.
In addition to an increase within the CBIZ Index, ADP and Moody’s Analytics reported “that the private sector posted an employment increase of 177,000 from May to June, on a seasonally adjusted basis. Small businesses accounted for 29,000 of those jobs and the report found that almost all sectors and industries reported an increase.”
While Paychex and CBIZ general look at similar data it is interesting to note the difference this time around. This is the second largest hiring period for the month of June since the SBEI inception in 2009 and saw hiring increases in three of the four American regions (Northeast, Central, and Southeast).