October’s Small Business Hiring Data Continues to Show Weakness
CBIZ, Inc. (CBZ)
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Source: Business Wire
The CBIZ Small Business Employment Index reports the second consecutive month of job losses CLEVELAND--(BUSINESS WIRE)--The CBIZ Small Business Employment Index (“SBEI”) reported a seasonally adjusted decrease of 0.58% in October, marking the second consecutive month of decline and the fourth negative month out of the past six. The CBIZ SBEI tracks payroll and hiring data for over 2,800 companies with 300 or fewer employees, providing broad insight into small business trends.“The weakness we’re seeing in October isn’t just an isolated occurrence; it’s part of a broader trend,” said Anna Rathbun, CFA, Chief Investment Officer, CBIZ Investment Advisory Services, LLC. “Recent SBEI data aligns with a softening labor market reflected in the past six months of jobs data, highlighting a sustained slowdown.”The Bureau of Labor Statistics’ employment report indicated hiring growth that missed expectations. The October reading showed an overall increase of 12,000 private-sector jobs. The nat
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