The CBIZ Small Business Employment Index (SBEI), which tracks hiring trends among thousands of companies that employ 300 or fewer employees across the U.S., reported a month-over-month increase in hiring of 1.73 percent in June, following an increase in hiring of 1.78 percent in May.
In the Triangle, we see “Help Wanted” and “Now Hiring signs everywhere, from fast food restaurants and retailers to tech startup web pages.
“So far this summer, we’ve experienced two periods of substantial hiring increases, which likely signifies a growing trend in small business hiring,” says Philip Noftsinger, executive vice president, CBIZ Employee Benefits. “With a tightening labor market, it’s possible that we could see hiring slow over the next few months, but whether or not that occurs really is dependent upon how much slack remains in the labor market.”
ADP and Moody’s Analytics reported Wednesday that the private sector posted an employment increase of 177,000 from May to June, on a seasonally adjusted basis. Small businesses accounted for 29,000 of those jobs and the report found that almost all sectors and industries reported an increase.
Additional takeaways from the June SBEI include: