The CBIZ Small Business Employment Index (SBEI) in March increased for the second consecutive month to 0.16% from 0.09% in February.
Business services firm CBIZ Inc. (NYSE: CBZ) of Cleveland, tracks hiring trends among U.S. companies that employ 300 or fewer employees and announced the employment index for March on April 5, the same day as the release of the U.S. Bureau of Labor Statistics’ report on the national job market, which found the economy added 196,000 jobs in March.
Philip Noftsinger, executive vice president of the CBIZ unit that produces the index said that “seasonally, the March timeframe is a period of hiring.”
Some Key Points From the March Index Data
From the February index, 26% of companies hired more employees, 55% made no changes and 19% decreased employee totals.
The industries that posted job growth were arts/entertainment, construction, transportation, health care, nonprofits and retail. Real estate and financial services posted employment declines.
The continued domestic economic expansion “is providing support for small business owners to elect to invest in more labor.”
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