August Employment Index Reveals Another Retreat in Hiring: Report
Of the companies surveyed, 26 percent reported a decrease in employee headcount while 23 percent increased staffing.The August CBIZ Small Business Employment Index (SBEI), a barometer for hiring trends among companies with 300 or fewer employees, further decreased by 0.36 percent through the month, after posting a decrease of 0.90 percent in July. Today's announcement follows ADP's August jobs survey, which showed that the private sector added 91,000 jobs in August, reasonably lower than the 109,000 jobs added in July. Additionally, the August count modestly missed analysts' expectations of 100,000 new jobs. Philip Noftsinger, CPA and business unit president for CBIZ Payroll Services, said while they focus solely on small businesses, their monthly data is very consistent with other employment indicators offered by the marketplace. "Most of the statistical information we are seeing related to employment is showing a 'no-change' result, and our metric is no different, showing a very mild decline," he said.
Of the companies that were surveyed, 26 percent reported a decrease in employee headcount and 23 percent increased staffing, while 51 percent maintained their number of employees. According to the first CBIZ Small Business Market Survey, a survey offered to the companies involved in the SBEI, almost 28 percent are looking to deploy growth strategies in the coming year, focused primarily on marketing and e-commerce.