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Small Business Hiring Trends Upward in October

The CBIZ Small Business Employment Index (“SBEI”) reported a seasonally adjusted increase of 1.07% in October, which is a significant jump from the mildly positive report in September. The CBIZ SBEI tracks payroll and hiring trends for over 3,700 companies that have 300 or fewer employees, providing broad insight into small business trends.

“The increase in hiring reported in October is probably the result of a few contributing factors,” said Philip Noftsinger, Executive Vice President, CBIZ, Inc. “Continued decreases of COVID-19 cases are likely contributing to more people returning to work, all enhanced unemployment benefits have expired and businesses under 100 employees are unaffected by the federal vaccine mandates.”

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