According to the January CBIZ Small Business Employment Index, which analyzes hiring trends among companies with 300 or fewer employees, declined by 2.75 percent in January after a 1.75 percent growth in December.
"January's numbers express a decline in overall employment from December levels," says Philip Noftsinger, business unit president for CBIZ Payroll Services. "Our SBEI is not seasonally adjusted; therefore, our numbers for January are consistent with January 2011, which showed a decline of 2.62 percent versus 2.75 percent for January 2012."
Among the respondents, 34 percent say there was a dip in the employee headcount while 18 percent say they increased staffing. Another 48 percent of respondents say they maintained their work force numbers.
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The index also shows a decline in hiring after the holidays is expected, and many business owners are still hesitant to bring on new employees because of the economic state. In order to experience mild job growth, similar to that of the fourth quarter in 2011, there needs to be evidence of positive macro data. Ultimately, prolonged job creation is based on employer confidence and consumer spending.
"Thus far, we are seeing 2012 open up very similar to 2011," Noftsinger says. "Data over the next few months should be watched closely in order to see if we can sustain positive movement into the coming year."
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