Challenges in small business hiring are starting to improve due to a stable economy

Small Business Hiring Woes Easing Amidst Strong Economy, According to CBIZ Report

According to a report from the CBIZ Small Business Employment Index, hiring woes for small businesses may be starting to ease. In February, there was a seasonally adjusted increase of 0.17%, indicating that small businesses are expanding their workforces in the strong U.S. economy despite high interest rates.

Small businesses often struggle to retain workers due to their inability to offer higher salaries or benefits like health insurance. However, the CBIZ index tracks hiring trends among thousands of companies with 300 or fewer employees nationwide and shows that some industries are experiencing growth while others are declining.

In February, 20% of companies in the index hired more staff, while 60% made no changes to their headcounts and 20% cut staff. Some industries, such as administrative and support services, arts, entertainment, recreation, and technology and life sciences, saw hiring gains. On the other hand, industries like accommodation and food services, insurance, and utilities experienced decreases in hiring.

Regionally, the West, Southeast

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