The latest Small Business Employment Index put together by CBiz Payroll Services indicates that hiring by small businesses was up in April.
CBiz said the employment index, a barometer for hiring trends among companies with 300 or fewer employees, rose 1.35% last month after posting an increase of 0.69% in March.
Despite some disappointing GDP news from the first quarter and a recent increase in weekly jobless claims, the index continues to show positive job growth for the third consecutive month, Philip Noftsinger, business unit president for CBiz Payroll Services, said in a statement. Mr. Noftsinger said April’s results show a stronger growth factor than the results in the prior two periods, indicating there may be less volatility in the small business marketplace. The unit of accounting and business services provider CBiz Inc. (NYSE: CBZ) said of the companies that were surveyed, nearly 27% increased employee headcount while 53% maintained the number of employees. CBiz did add a note of caution to the generally upbeat results. It noted that as gas prices continue to rise, the resulting impact may inhibit future growth.
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