-CBIZ Index Illustrates Slow, Steady Growth-
CLEVELAND--(BUSINESS WIRE)--Mar. 9, 2012--
The CBIZ
Small Business Employment Index (SBEI), a barometer for hiring trends
among companies with 300 or fewer employees, increased by .25 percent
during February, following a decrease of 2.75 percent in January. The
small business sector of the economy continues to attract headline
coverage as our leadership and political and economic pundits continue
to stress that the small business owner is the driving force of
the economy. The SBEI is focused on this part of our economy and is a
critical component to understanding economic activity in this small
private sector.
Today’s announcement follows ADP’s February jobs survey, which
illustrated that the private sector added 216,000 jobs last month.
Currently, CBIZ Payroll Services manages payroll services for more than
3,000 businesses that employ fewer than 300 people. The sample reflects
a broad array of industries and geographies corresponding to the markets
across the United States where CBIZ provides services.
Philip Noftsinger, business unit president for CBIZ
Payroll Services, explained, “The CBIZ Small Business Employment
Index reported a .25 percent gain in February, in line with positive
reports from other sources. February’s gain, although slight, is an
important one in that it is a positive sign that employment gains in the
small business sector are holding outside the holiday shopping season.”
Additional take-away points from the February data include:
-
At-a-glance: Of the companies surveyed, the data shows that 22
percent reported a decrease in employee headcount while 24 percent
increased staffing. 54 percent of the companies involved in the survey
maintained their number of employees.
-
Small business sector: Other reports of anecdotal nature are
reporting consistent information that shows small business improving
their employment numbers, but only slightly and only as demand
dictates.
-
What-to-watch: Sustained gains will be important for future
growth, so look to March and April to demonstrate a trend in the SBEI.
Consumer confidence will continue to play a direct role on the road to
recovery.
“February’s gain, although slight, is an important one in that it is a
positive sign that employment gains in the small business sector are
holding outside the holiday shopping season. Other reports of an
anecdotal nature are reporting consistent information showing small
business improving their employment numbers, but only slightly and only
as demand dictates. The February report from the National Federation of
Independent Business shows that poor sales are still the number one
problem for small businesses, although the gap between sales and other
concerns has narrowed over the past 12 months. That narrowing indicates
that demand is increasing for small business goods and services, which
is contributing to the mild to modest gains in employment,” said
Noftsinger.
For a month-by-month illustration of the Small Business Employment
Index, please
click here.
Editor’s note: The United States Department of Labor’s Bureau
of Labor Statistics Employment Situation Summary is due to be released
on Friday, March 9, at 8:30 a.m. Mr. Noftsinger is available for
media interviews to discuss employment trends and other payroll matters
impacting the American business environment.
About CBIZ,
Inc. (NYSE:CBZ)
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 and consulting,
internal audit, merger and acquisition advisory and valuation services.
Employee services include employee benefits consulting, property and
casualty insurance, retirement plan consulting, payroll, life insurance,
HR consulting and executive recruitment. CBIZ also provides outsourced
technology staffing and support services, healthcare consulting and
medical practice management. As one of the largest benefits specialists
and one of the largest accounting, valuation and medical practice
management companies in the United States, the company’s services are
provided through more than 140 company offices in 36 states.
Source: CBIZ, Inc.
Gregory
FCA for CBIZ,
Inc.
Jimmy Moock, 610-228-2125
jimmy@gregoryfca.com
