Small Business Hiring Trends Upward in April
The CBIZ Small Business Employment Index signaled towards positive momentum heading into the summer months, building on March’s more muted gains
“Consumer demand remains strong, and hiring is gaining positive momentum as businesses prepare for the summer months,” said
The ADP and Moody’s employment report indicated collective hiring growth among small, medium-sized and large companies. Its April reading showed an overall increase of 247,000 private-sector jobs for the month. However, its breakout data specific to small businesses reported a decline of 120,000 jobs on a seasonally adjusted, month-over-month basis. The ADP and Moody’s report counts small businesses as companies with 49 or fewer employees, while the CBIZ SBEI uses data from companies with 300 employees or fewer.
The CBIZ SBEI’s regional data showed a hiring gain among every region in
On an industry level, the most notable hiring increases were seen in
“Detraction in Real Estate and Construction coincide with record increases in home prices and raw building materials and is reflective of a slight pause or hesitation in demand,” added Rathbun. “Overall, strength in hiring was broad-based across
To view an infographic with data from the employment index, visit the CBIZ website.
Additional takeaways from the April SBEI include:
April’s snapshot: 26% of companies in the index increased staffing, 56% made no change to their headcounts and 18% reduced employment totals.
Industries at a glance:
Geographical hiring: The Northeast (2.3%), Southeast (1.61%), Central (1.51%), and West (0.58%) regions all experienced hiring increases.
What’s next? Even though small businesses are facing inflation-related concerns and labor shortages, hiring remained strong across the
Editor’s note:
(1) The SBEI illustration is licensed under a Creative Commons Attribution-NoDerivs 3.0 Unported License. Based on our work at https://www.cbiz.com.
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