{"id":470327,"date":"2021-04-02T07:48:47","date_gmt":"2021-04-02T11:48:47","guid":{"rendered":"http:\/\/www.marketnewsdesk.com\/?p=470327"},"modified":"2021-04-02T07:48:47","modified_gmt":"2021-04-02T11:48:47","slug":"small-business-hiring-growth-continues-in-march","status":"publish","type":"post","link":"https:\/\/www.marketnewsdesk.com\/index.php\/small-business-hiring-growth-continues-in-march\/","title":{"rendered":"Small Business Hiring Growth Continues in March"},"content":{"rendered":"

<\/p>\n

Small Business Hiring Growth Continues in March<\/b><\/p>\n

The CBIZ Small Business Employment Index sees positive hiring trends for the second consecutive month, building on February\u2019s bounce from early-year declines<\/i><\/p>\n

CLEVELAND–(BUSINESS WIRE<\/a>)–
\nThe CBIZ Small Business Employment Index (\u201cSBEI\u201d) reported a seasonally adjusted increase of 0.86% for March. The reading closes the first quarter of 2021 on a positive note and builds on February\u2019s hiring growth. The CBIZ SBEI tracks payroll and hiring trends for over 3,500 companies that have 300 or fewer employees, providing broad insight into small business trends.\n<\/p>\n

\n\u201cThe small business landscape has been greatly impacted by the pandemic over the last year, and recovery has not been linear,\u201d said Philip Noftsinger, Executive Vice President, CBIZ, Inc. \u201cThe CBIZ SBEI\u2019s continued growth in March is a promising sign.\u201d\n<\/p>\n

\nHiring growth was also evident in the ADP and Moody\u2019s employment report, which revealed an uptick of 517,000 private-sector jobs on a month-over-month, seasonally adjusted basis. The boost for small business jobs was 174,000. The ADP and Moody\u2019s report counts small businesses as companies with 49 or fewer employees, while the CBIZ SBEI uses data from companies with 300 employees or fewer.\n<\/p>\n

\nThe CBIZ SBEI showed positive trends in the regional data for March, with widespread hiring increases. The Northeast (1.61%) and West (1.27%) saw the most significant rises in hiring. These regions were followed by more modest gains in the Southeast (0.82%) and Central (0.61%) U.S.\n<\/p>\n

\nThe industry data from the CBIZ SBEI also painted a positive picture. While hiring increased in Construction and Financial Services, boosts in Arts and Entertainment as well as Accommodation and Food Services were particularly noteworthy, due to the impact of pandemic-related restrictions on these industries. Meanwhile, hiring declined in only two industries, Mining along with Technology and Life Sciences.\n<\/p>\n

\n\u201cWith the impact of the pandemic in mind, we\u2019ve been paying close attention to the Arts and Entertainment industry and the Accommodation and Food Services industry, which each posted almost double-digit hiring growth in March,\u201d Noftsinger added. \u201cArts and Entertainment in particular trended negatively in February, underscoring the significance of improvement in March.\u201d\n<\/p>\n

\nTo view an infographic with data from the employment index, visit the CBIZ website<\/a>.\n<\/p>\n

\nAdditional takeaways from the March SBEI include:\n<\/p>\n

March\u2019s snapshot:<\/b> 26.3% of companies in the index added to their headcounts, 56.2% maintained employment levels and 17.5% decreased their headcounts.\n<\/p>\n

Industries at a glance: <\/b>The CBIZ SBEI reported increased hiring inArts and Entertainment, Accommodation and Food Services, Construction, and Financial Services. Hiring decreased in Mining as well as Technology and Life Sciences.\n<\/p>\n

Geographical hiring: <\/b>On a regional scale, hiring increased unanimously across the Northeast (1.61%), West (1.27%), Southeast (0.82%) and Central (0.61%) U.S.\n<\/p>\n

What\u2019s next?<\/b> In terms of economic recovery, regional and industry data will continue to be telling for the small business sector moving into the second quarter of 2021.\n<\/p>\n

\nThe CBIZ SBEI March reading comes on the heels of the Q1 2021 release of the CBIZ Main Street Index, which surveyed over 2,480 businesses throughout the U.S. on the continued impact of the COVID-19 pandemic.* The Q1 2021 CBIZ Main Street Index reported that while 44% of businesses surveyed experienced a significant or severe impact from the pandemic, almost three-quarters indicated positive or very positive levels of business confidence. Please see the CBIZ Main Street Index webpage<\/a> for an interactive infographic with additional data.\n<\/p>\n

\n*Note: Not all of those surveyed in the CBIZ Main Street Index are clients of CBIZ.\n<\/p>\n

Editor\u2019s note:<\/b><\/p>\n

\n(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<\/a>.\n<\/p>\n

\nFollow CBIZ on Twitter at @CBZ<\/a> or on Facebook<\/a>.\n<\/p>\n

About CBIZ<\/b><\/p>\n

\nCBIZ, Inc. is a leading provider of financial, insurance and advisory services to businesses throughout the United States. Financial services include accounting, tax, government health care consulting, transaction advisory, risk advisory, and valuation services. Insurance services include employee benefits consulting, retirement plan consulting, property and casualty insurance, payroll, and human capital consulting. With more than 100 Company offices in 31 states, CBIZ is one of the largest accounting and insurance brokerage providers in the U.S. For more information, visit www.cbiz.com<\/a>.\n<\/p>\n

\"\"<\/p>\n

View source version on businesswire.com: <\/span>https:\/\/www.businesswire.com\/news\/home\/20210402005027\/en\/<\/a><\/span><\/p>\n

Media
\n<\/b>
Sandy McKenzie
\n
Gregory FCA for CBIZ
\n
sandy@gregoryfca.com
\n<\/a>
610-228-2147\n<\/p>\n

KEYWORDS:<\/b> Ohio United States North America<\/p>\n

INDUSTRY KEYWORDS:<\/b> Insurance Human Resources Finance Consulting Banking Accounting Professional Services Small Business Other Professional Services<\/p>\n

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Small Business Hiring Growth Continues in March The CBIZ Small Business Employment Index sees positive hiring trends for the second consecutive month, building on February\u2019s bounce from early-year declines CLEVELAND–(BUSINESS WIRE)– The CBIZ Small Business Employment Index (\u201cSBEI\u201d) reported a seasonally adjusted increase of 0.86% for March. The reading closes the first quarter of 2021 on a positive note and builds on February\u2019s hiring growth. The CBIZ SBEI tracks payroll and hiring trends for over 3,500 companies that have 300 or fewer employees, providing broad insight into small business trends. \u201cThe small business landscape has been greatly impacted by the pandemic over the last year, and recovery has not been linear,\u201d said Philip Noftsinger, Executive Vice President, CBIZ, Inc. \u201cThe … <\/p>\n

Continue reading “Small Business Hiring Growth Continues in March”<\/span><\/a><\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[],"tags":[],"class_list":["post-470327","post","type-post","status-publish","format-standard","hentry"],"yoast_head":"\nSmall Business Hiring Growth Continues in March - Market Newsdesk<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.marketnewsdesk.com\/index.php\/small-business-hiring-growth-continues-in-march\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Small Business Hiring Growth Continues in March - Market Newsdesk\" \/>\n<meta property=\"og:description\" content=\"Small Business Hiring Growth Continues in March The CBIZ Small Business Employment Index sees positive hiring trends for the second consecutive month, building on February\u2019s bounce from early-year declines CLEVELAND–(BUSINESS WIRE)– The CBIZ Small Business Employment Index (\u201cSBEI\u201d) reported a seasonally adjusted increase of 0.86% for March. The reading closes the first quarter of 2021 on a positive note and builds on February\u2019s hiring growth. The CBIZ SBEI tracks payroll and hiring trends for over 3,500 companies that have 300 or fewer employees, providing broad insight into small business trends. \u201cThe small business landscape has been greatly impacted by the pandemic over the last year, and recovery has not been linear,\u201d said Philip Noftsinger, Executive Vice President, CBIZ, Inc. \u201cThe … Continue reading "Small Business Hiring Growth Continues in March"\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.marketnewsdesk.com\/index.php\/small-business-hiring-growth-continues-in-march\/\" \/>\n<meta property=\"og:site_name\" content=\"Market Newsdesk\" \/>\n<meta property=\"article:published_time\" content=\"2021-04-02T11:48:47+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/cts.businesswire.com\/ct\/CT?id=bwnews&sty=20210402005027r1&sid=flmnd&distro=nx&lang=en\" \/>\n<meta name=\"author\" content=\"Newsdesk\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Newsdesk\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"4 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/small-business-hiring-growth-continues-in-march\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/small-business-hiring-growth-continues-in-march\\\/\"},\"author\":{\"name\":\"Newsdesk\",\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/#\\\/schema\\\/person\\\/482f27a394d4fda80ecb5499e519d979\"},\"headline\":\"Small Business Hiring Growth Continues in March\",\"datePublished\":\"2021-04-02T11:48:47+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/small-business-hiring-growth-continues-in-march\\\/\"},\"wordCount\":734,\"image\":{\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/small-business-hiring-growth-continues-in-march\\\/#primaryimage\"},\"thumbnailUrl\":\"https:\\\/\\\/cts.businesswire.com\\\/ct\\\/CT?id=bwnews&sty=20210402005027r1&sid=flmnd&distro=nx&lang=en\",\"inLanguage\":\"en-US\"},{\"@type\":\"WebPage\",\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/small-business-hiring-growth-continues-in-march\\\/\",\"url\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/small-business-hiring-growth-continues-in-march\\\/\",\"name\":\"Small Business Hiring Growth Continues in March - 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