The CBIZ Small Business Employment Index, which measures hiring trends among companies with 300 or fewer employees, fell by 1.57 percent during July after a 1.38 percent increase in June.
"As we have seen in the previous two years, the SBEI metric has moved negative in the month of July," says Philip Noftsinger, business unit president for CBIZ Payroll Services. "This year's data moved more negative than in the previous two years, possibly indicating that small-business employers are not only feeling the economic slowdown that has been widely acknowledged but may also be anticipating the slowdown continuing or increasing as we approach the fall and into the holiday shopping season."
Twenty-nine percent of respondents cut staff; however, 22 percent of respondents added employees. Another 49 percent of respondents maintained staffing levels.
Continue Reading for Free
Register and gain access to:
- Breaking benefits news and analysis, on-site and via our newsletters and custom alerts
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical converage of the property casualty insurance and financial advisory markets on our other ALM sites, PropertyCasualty360 and ThinkAdvisor
Already have an account? Sign In Now
© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.