CBIZ Small Business Employment Index Reveals Typical November Flattening Trend
- Small businesses refrain from employment changes ahead of likely hiring increases for holiday season -
“Historically, the November SBEI has always been a flat reading and this
November followed that trend,” says
ADP and Moody’s Analytics reported Wednesday that the private sector posted an employment increase of 179,000 jobs month-over-month on a seasonally adjusted basis. Small businesses accounted for 46,000 of those jobs and the report found that almost every sector reported an increase.
To view an infographic with data from the employment index, visit
the
Additional takeaways from the November SBEI include:
-
November’s snapshot: When compared to the October SBEI reading,
26 percent of companies increased their headcounts, 51 percent
refrained from making labor changes, and 23 percent decreased their
employee totals. Since the SBEI’s inception in
June 2009 , the November reading has seen an average hiring decrease of 0.12 percent, an essentially flat reading; and this year’s reading is the third-largest increase during the November period. - Industries at a glance: Of the industries reflected in the index, Administrative and Support Services, Non-Profits, Educational, and Healthcare posted job growth. Conversely, Agriculture, Professional Services, and Financial Services posted declines.
- Geographical hiring: In November, the Northeast and Central regions experienced hiring decreases of 0.41 and 0.12 percent, respectively. Meanwhile, the West and Southeast demonstrated hiring increases of 4.16 and 0.66 percent, respectively.
- What’s next? The November report fell right in line with seasonal trends, which indicates the December report will reveal any noticeable reaction in hiring trends as small business owners adjust to consumer sentiment during the holiday season.
CBIZ Payroll Services manages payroll services for more than 4,000
businesses. Its index reflects a broad array of industries and
geographies corresponding to the markets across the U.S. where
Editor’s note:
(1) The SBEI illustration is licensed under a
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View source version on businesswire.com: https://www.businesswire.com/news/home/20181207005047/en/
Source:
Kelly Forst
Desk: 610-228-2396
kellyf@gregoryfca.com
Gregory
FCA for CBIZ,
Inc.