CBIZ found that small business employment fell for the fourth month in a row in October.
Of the companies with 300 or fewer employees surveyed by CBIZ, 28 percent reported a decrease in employee headcount while 22 percent increased their staffing. Fifty percent of the companies involved in the survey maintained their number of employees.
The October CBIZ Small Business Employment Index declined by 1.28 percent through October, after posting a decrease of 0.81 percent in September.
“This month’s SBEI results show a steeper decline than in September, indicating that job growth at the small business level is still struggling,” said CBIZ Payroll Services business unit president Philip Noftsinger.
Small business owners continue to remain hesitant in hiring new employees amid global economic concerns and the bleak market outlook in the U.S.
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