This was the second consecutive monthly decline in employee payrolls within the small businesses surveyed – an indication that small businesses remain cautious and fearful that the economy’s recovery is stalling, the company said in a news release.
The payroll data showed that 28% of the companies managed by CBIZ Payroll Services slashed their headcount during the month of August, compared to 24% of companies doing so in July. However, year-to-date the data shows more jobs have been added than cut.
Of the 2,964 companies with less than 300 employees included in the survey in August only 22% added employees and 50% made no change. July data showed that 26% of companies added staff; while 50% maintained headcount.The CBIZ Small Business Employment Index, a monthly analysis to gauge the staffing trends within America’s small to middle market employers, was launched last month (see CBIZ Unveils Small Business Employment Index). Companies included represent an array of industries and geographies corresponding to the markets across the United States where CBIZ provides services.