The CBIZ
Small Business Employment Index (SBEI), a barometer for hiring
trends for more than 3,500 companies with 300 or fewer employees,
declined by .57 percent during July, following a decrease of .21 percent
in June.
In contrast, ADP’s July jobs survey illustrated that the private sector
added more workers than initially anticipated with a total of 200,000
jobs, topping analysts’ estimates of 180,000 jobs. Additionally,
employment gains for the month of June were unexpectedly revised upward
to 198,000.
“The CBIZ Small Business Employment Index showed no signs of significant
movement in either direction for the second month in a row,” says Philip
Noftsinger, business unit president for CBIZ
Payroll Services. “The number of companies reporting a positive
change basically matched those reporting a negative change.”
To view and/or use a graphic illustration that tracks and illustrates
the employment index, visit
our blog here.¹
Additional take-away points from the July data set include:
-
At-a-glance: Of the companies surveyed, 24 percent increased
staffing while 24 percent decreased staffing and 52 percent maintained
their number of employees.
-
Small business sector: Small business owners have the labor
needed to meet existing demand, and until the consumer can re-enter
the marketplace in terms of spending, we will continue to be stuck in
a slow growth mode from a jobs perspective.
-
What to watch: Small business owners continue to operate with a
skeptical eye for the future. They’re unwilling or unable to make
investments that will support economic growth as they see no clear
fiscal policy direction. In addition, they are not able to point to
macro economic factors that would indicate greater demand in the
future.
“The jobs picture will continue to be clouded by the shifts in full-time
and part-time workforces as businesses navigate around the health care
requirements, and then again adjust to delays in those requirements,”
says Noftsinger.
CBIZ Payroll Services manages payroll services for more than 3,500
businesses. Its index reflects a broad array of industries and
geographies corresponding to the markets across the United States where
CBIZ provides human capital services. The data represented by the SBEI
is derived from a segment of employers not completely accounted for by
the ADP and Federal BLS employment reports.
Editor’s note:
(1) The SBEI illustration is
licensed under a Creative Commons Attribution-NoDerivs 3.0 Unported
License. Based on a work at http://blog.cbiz.com.
About CBIZ, Inc.
CBIZ, Inc. provides professional business services that help clients
better manage their finances and employees. CBIZ provides its clients
with financial services including accounting, tax, financial advisory,
government health care consulting, risk advisory, merger and acquisition
advisory, real estate consulting, and valuation services. Employee
services include employee benefits consulting, property and casualty
insurance, retirement plan consulting, payroll, life insurance, HR
consulting, and executive recruitment. As one of the nation’s largest
brokers of employee benefits and property and casualty insurance, and
one of the largest accounting and valuation companies in the United
States, the Company’s services are provided through nearly 100 Company
offices in 32 states.
Copyright Business Wire 2013