Struggles in hiring for small businesses appear to be improving

Small Businesses Leading the Way in U.S. Job Growth, Despite High Interest Rates

Despite high interest rates, the U.S. economy remains strong, with small businesses sustaining this strength and steadily expanding their workforces in February, according to Anna Rathbun, Chief Investment Officer of CBIZ. The CBIZ Small Business Employment Index indicated a 0.17% increase in hiring among small businesses nationwide, with 20% of companies increasing their staff, 60% maintaining their headcounts, and 20% reducing staff.

Certain industries saw more hiring activity than others, with sectors like administrative and support services, arts and entertainment, and technology and life sciences experiencing hiring gains. On the other hand, industries like accommodation and food services, insurance, and utilities witnessed decreases in employment. In terms of regional hiring patterns, the West, Southeast, and Central regions saw slight increases while the Northeast region saw a slight decline.

The positive trend in small business hiring aligns with the overall job growth in the U.S. economy. In February


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