Rate of Hiring in U.S SMBs Improves Slightly

The fact that the U.S small and medium sized businesses are the job creators for the country is reconfirmed by the statistics revealed by U.S Department of Labour, which states that 44% of U.S private payroll is generated by small businesses and 65% of the net new jobs, in the past 17 years.

CBIZ Small Business Employment Index, for the month of October, shows that the index showed positive trend in the past four months. The employee head count showed an increase of 1.75% and reached 0.73%. The index showed decline of 1.02 % and 1.01% in the last two months. The survey was conducted on the small businesses having less than 300 employees.

25.3 percent (23.4% in the last month) of the 3,082 firms surveyed said they hired employees. In October, 50.6 percent (49.5 percent last month) of the total 3,082 companies in the survey said that they have made no changes to their employee headcount. This minimum hike in the hiring may be attributed to changes in economic and tax policies that are being anticipated in wake of elections.

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