Small Business Finance News
Employment Index Shows Bad Signs For Business Owners
Written by Jenna Weiner
Published: 9/3/2010
CBIZ Small Business Index shows entrepreneurs not hiring new workers.
A new small business index revealed that more jobs had been lost in the month of August, the second month in a row that the index fell.
The CBIZ Small Business Employment Index for August decreased by 1.01 percent, which showed that businesses were decreasing their staffs in hopes of cutting down on the cost of doing business. Twenty-eight percent of small businesses managed by CBIZ Payroll Services decreased the number of employees in August.
Additionally out of the 2,964 included in the survey, 50 percent made no additional hires and only 22 percent said that they had added employees, down from 26 percent in July.
"We've been experiencing relative stability in the overall employment market," said Philip Noftsinger, unit president of CBIZ Payroll Service. "We tracked only marginal changes in employment levels, which are consistent with the period of limited economic growth that the economy has experienced since the recession ended."
The government has been trying to improve the negative news for small business in recent days. The U.S. Small Business administration recently announced that it would be hosting the Export Matchmakers Trade Fair & Conference in Jersey City, New Jersey, later this month.
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