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Small Businesses Beating the Odds: Despite Challenges, Show Positive Hiring Trends According to CBIZ

Easing of Small Business Hiring Challenges Indicates Continued Economic Strength

Small Businesses Beating the Odds: Despite Challenges, Show Positive Hiring Trends According to CBIZ

Small businesses across the country may be experiencing some relief when it comes to hiring challenges, as the latest data from the CBIZ Small Business Employment Index shows a seasonally adjusted increase of 0.17% in February. Despite current economic conditions, including high interest rates, small businesses are continuing to expand their workforce.

One of the challenges that small businesses face when it comes to hiring and retaining employees is their inability to offer competitive salaries or benefits such as health insurance. The CBIZ index monitors hiring trends among thousands of companies with 300 or fewer employees across the country, providing insight into the state of small business employment.

According to Anna Rathbun, chief investment officer at CBIZ, the unexpected strength of the U.S. economy is being reflected in steady growth of small business hiring. In February, 20% of companies in the index increased their staff while 60% maintained their current headcounts and 20% reduced staff numbers.

Different industries are experiencing varying levels of hiring activity, with sectors such as administrative and support services, arts, entertainment, technology and life sciences seeing gains while industries such as accommodation and food services, insurance and utilities reported decreases in hiring activity.

Regionally, the West, Southeast and Central regions saw slight increases in hiring while the Northeast region experienced a slight decline. This regional variation reflects the diverse economic landscape across the country.

The positive hiring trend among small businesses mirrors that of

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