Small Business Hiring Slows in February Amid Concerns Over Global Headwinds

The CBIZ Small Business Employment Index (“SBEI”) reported reasonably flat hiring in February, with a seasonally adjusted decline of 0.39%. The CBIZ SBEI tracks payroll and hiring trends for over 3,500 companies that have 300 or fewer employees, providing broad insight into small business trends. The February 2020 data reflects a historical trend for the month’s numbers over the last 10 years, with winter weather typically contributing to a slowdown in economic activity. This year’s data has also been influenced by the wider-reaching economic impacts of the coronavirus and political landscape.