Cbiz small business employment index turns negative in january

Cleveland--(business wire)--the january cbiz small business employment index, which is designed to serve as a barometer for hiring trends among companies with 300 or fewer employees, decreased by 2.62 percent through the month, after posting an increase of 1.54 in december; a 4 percent drop month over month. the decrease was the largest drop since january 2010 and speaks to the seasonal hiring trends in the small business sector, which tends to be more volatile than larger business sectors. philip noftsinger, business unit president for cbiz payroll services, offers, “this month’s report is a significant step back from the gains we saw in the 4th quarter. certainly there is some seasonality that was anticipated in the report, but i don’t think you can ignore the size of the change. that said, it’s important to be cautious and not overreact to a one month change.” the survey also saw the percentage of companies decreasing employee headcount spike to 34 percent in january, a jump from 20 percent the month before. of the 2,901 companies included in the survey for january, almost half saw no change to their employee headcount, highlighting the uncertainty that remains in the sector. “the companies that employ fewer than 300 people are more prone to swings in payroll headcount. what we’ve seen in this month’s data looks to be a seasonal reduction in staff and we expect the longer term trend to be more consistent with a slow-paced economic recovery,” says noftsinger. currently, cbiz payroll services manages payrolls 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. noftsinger is available for media interviews to discuss small to mid-market 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 and tax, internal audit, merger and acquisition advisory, and valuation services. employee services include group benefits, property and casualty insurance, retirement planning, payroll, hr consulting and wealth management. cbiz also provides outsourced technology staffing 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 150 company offices in 36 states.
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