Hiring among employers with 300 or fewer employees dropped by 2.37 percent after a 0.39 percent gain in December, according to the CBIZ Small Business Employment Index.
Although the unemployment rate slightly rose from 7.8 percent to 7.9 percent, an ADP January jobs survey shows that the private sector brought in 192,000 jobs, far surpassing analysts' projection of 165,000 jobs. This figure also tops December's revised tally of 185,000 added jobs.
"This month's SBEI prints with a decline of 2.37 percent, which is the lowest seasonal reduction in work force in the past two years of January reports," says Philip Noftsinger, business unit president for CBIZ Payroll Services.
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.
