• Mon. May 27th, 2024

Small Businesses in the US Slowly Expanding Workforces Despite Challenges

BySamantha Jones

Mar 27, 2024
Challenges in small business hiring are starting to improve.

Despite ongoing challenges in retaining workers, small businesses in the U.S. are slowly expanding their workforces. In February, the CBIZ Small Business Employment Index reported a seasonally adjusted increase of 0.17%, indicating that small businesses are actively hiring despite low salaries and limited benefits like health insurance. The index monitors hiring activities among thousands of companies with 300 or fewer employees nationwide.

According to Anna Rathbun, the chief investment officer of CBIZ, the strength of the U.S. economy in the current high-interest-rate environment has led small businesses to steadily increase their hiring during February. Around 20% of companies in the index hired more employees, while 60% maintained their headcounts and 20% reduced staff. Some industries saw growth in hiring, such as administrative and support services, arts, entertainment, recreation, and technology and life sciences, while others like accommodation and food services, insurance, and utilities experienced declines.

Regionally, the West, Southeast, and Central regions witnessed slight increases in hiring, while the Northeast region saw a slight decline. This hiring trend among small businesses is reflective of the broader market

By Samantha Jones

As a content writer at newsnnk.com, I weave words into captivating stories that inform and engage our readers. With a passion for storytelling and an eye for detail, I strive to deliver high-quality and engaging content that resonates with our audience. From breaking news to thought-provoking features, I am dedicated to providing informative and compelling articles that keep our readers informed and entertained. Join me on this journey as we explore the world through the power of words.

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