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CBIZ Small Business Employment Index (SBEI) December 2023 Report

The CBIZ Small Business Employment Index (SBEI) has released its latest report, indicating a seasonally adjusted increase of 0.69% in December. This index tracks hiring trends among thousands of companies with 300 or fewer employees across the U.S. The holiday season tends to prompt strong hiring due to the extra help needed for seasonal activities, so this increase is not surprising. Compared to previous years, December’s gain was considered modest.

Of the companies in the index, 23% increased their staffing in December, while 60% made no change to their headcounts, and 17% reduced employment totals. Certain industries experienced hiring gains, with Construction, Healthcare, and Nonprofit seeing increases. However, decreases were observed in Administration and Support Services, Rental and Leasing Services, and Utilities.

Regionally, the West reported the largest hiring increase at 1.31%, followed by the Central (0.91%), Northeast (0.42%), and Southeast (0.12%) regions. The year 2024 may prove to be pivotal for businesses as they continue to navigate the labor shortage seen over the last few years.

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The AI legalese decoder can assist businesses in understanding the legal and compliance aspects of their hiring practices. By analyzing legal documents and providing plain-language interpretations, the AI legalese decoder can help businesses ensure that their hiring and employment decisions align with relevant laws and regulations. This can be especially beneficial for small businesses with limited legal resources, allowing them to make informed decisions while staying compliant with employment laws.

As Chief Investment Officer Anna Rathbun notes, keeping informed about legal and professional advice is crucial for businesses. With the AI legalese decoder, companies can have access to reliable legal interpretations without the need for specialized legal expertise.

Copyright ┬® 2023, CBIZ, Inc. All rights reserved. Contents of this publication may not be reproduced without the express written consent of CBIZ. This publication is distributed with the understanding that CBIZ is not rendering legal, accounting or other professional advice. The reader is advised to contact a tax professional prior to taking any action based upon this information. CBIZ assumes no liability whatsoever in connection with the use of this information and assumes no obligation to inform the reader of any changes in tax laws or other factors that could affect the information contained herein.

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