This Day On The Street
Continue to site
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here

CBIZ Small Business Employment Index Retreats During July

The CBIZ Small Business Employment Index (SBEI), a barometer for hiring trends among companies with 300 or fewer employees, decreased by 1.57 percent during July, following an increase of 1.38 percent in June.

ADP’s July jobs survey revealed that the private sector added 163,000 jobs last month, which beat analysts’ estimates. However, June’s revised tally of 172,000 added jobs was not matched or surpassed.

CBIZ Payroll Services manages payroll services for more than 3,000 businesses. The survey reflects a broad array of industries and geographies corresponding to the markets across the United States where CBIZ provides human capital services. The data represented by the SBEI is derived from a segment of employers not completely accounted for by the ADP and Federal BLS employment reports.

“As we have seen in the previous two years, the SBEI metric has moved negative in the month of July. This year’s data moved more negative than in the previous two years, possibly indicating that small business employers are not only feeling the economic slowdown that has been widely acknowledged, but may also be anticipating the slowdown continuing or increasing as we approach the fall and into the holiday shopping season,” offered Philip Noftsinger, business unit president for CBIZ Payroll Services.

To view and/or use a graphic illustration that tracks and illustrates the employment index, visit our blog here.¹ Additional take-away points from the July data set include:
  • At-a-glance: Of the companies surveyed, the data shows that 29 percent reported a decrease in employee headcount while 22 percent increased staffing. 49 percent of the companies involved in the survey maintained their number of employees.
  • Small business sector: As the presidential election heats up, the nation's unemployment rate will certainly be one of the most discussed economic indicators. Should the jobless rate remain unchanged at 8.2 percent, the small business sector could suffer further losses ahead. Coupled with rising costs of doing business, the sector faces uncertainty.
  • What-to-watch: Concerns of global growth prospects weakening will indeed increase business pressures faced by companies in the U.S. Business owners should continually review fiscal controls, process evaluation and metrics management.

“Owners of businesses with less than 300 total employees are still focused on, and concerned with, anticipated sales, taxes and regulation. It is possible that if the entrepreneurs we work with were able to better predict the changes to the latter two items, via action by Congress, they may be willing to invest in additional labor. Predictability is extremely important for the small business owner, who after three years of slow economic activity, is operating with few resources,” said Noftsinger.

1 of 2

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
Dividend Stock Advisor

David Peltier identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Real Money

More than 30 investing pros with skin in the game give you actionable insight and investment ideas.

Product Features:
  • Access to Jim Cramer's daily blog
  • Intraday commentary and news
  • Real-time trading forums
Only $49.95
14-Days Free
14-Days Free


Chart of I:DJI
DOW 17,798.49 -14.90 -0.08%
S&P 500 2,090.11 +1.24 0.06%
NASDAQ 5,127.5250 +11.3820 0.22%

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs