November confirmed its reputation as a so-so month for hiring, according to the latest CBIZ Small Business Employment Index, which tracks hiring trends among U.S. companies that employ 300 or fewer people.
Cleveland-based business services firm CBIZ Inc. (NYSE: CBZ) said in a news release on Friday morning, Dec. 7, that the index showed a month-over-month increase in hiring of 0.48% in November, following a 0.52% decrease in hiring in October.
Philip Noftsinger, executive vice president of CBIZ Employee Benefits, which compiles the index, said in a statement, “Historically, the November (index) has always been a flat reading and this November followed that trend. It’s not uncommon for small businesses to resist hiring seasonal employees too early, in order to gauge consumer sentiment and demand during this high season.”
The CBIZ data came out on the same day that the federal government reported the economy added 155,000 jobs in November, below analysts’ expectations.
The company in the release offered these observations about the November index figures:
• Compared with the October index reading, 26% of companies increased their headcounts, 51% made no change and 23% decreased their employee totals.
• Since the index’s inception in June 2009, the November reading “has seen an average hiring decrease of 0.12%, an essentially flat reading; this year’s reading is the third-largest increase during the November period.”
• Of the industries reflected in the index, administrative/support services, nonprofits, education and health care posted job growth, while agriculture, professional services and financial services posted declines.
• In November, the Northeast and Central regions experienced hiring decreases of 0.41% and 0.12%, respectively, while the West and Southeast saw hiring increases of 4.16% and 0.66%, respectively.
CBIZ Payroll Services manages payroll services for more than 4,000 businesses nationwide.
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