In February, the CBIZ Small Business Employment Index reported a seasonally adjusted increase of 0.17%, indicating that employment challenges may be easing for small businesses in the U.S. economy. Despite high interest rates, the country’s economy continues to show strength.

Small businesses often struggle to retain employees due to an inability to provide higher wages or additional benefits such as health insurance. The CBIZ Index tracks hiring trends among thousands of companies with 300 or fewer employees across the United States.

Certain industries perform more favorably than others. Sectors such as administrative and support services, arts, entertainment, recreation and technology and life sciences showed employment growth, while industries such as accommodation and food services, insurance and utilities experienced declines.

Regionally, the West, Southeast and Central regions saw a slight increase in employment, while the Northeast region faced a slight decrease. Small business hiring trends mirrored the broader market, as US employers added 275,000 jobs in February – beating expectations and showing the economy’s resilience despite high interest rates. This represents an increase from the 229,000 jobs gained in January of the same year.

According to CBIZ Chief Investment Officer Anna Rathbun, small businesses are capitalizing on this strength, gradually expanding their workforce throughout February

By Samantha Johnson

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