The CBIZ employment index revealed that there had been major job losses in August. There was a decrease of CBIZ Small Business Employment Index for August by 1.01 percent. There was no hiring process in August.
The number of employees working in the firms managed by the CBIZ payroll services were decreased in August by about 28 percent of small businesses. Of 2,964 firms involved in the survey, it was found that employees were added by only 22 percent of them. This is decreased when compared to that in July which was 26 percent. The CBIZ Payroll Service reported that there had been a relative stability in the overall employment market.
According to another survey by the citibank, 83 percent of the business owners planned to reduce (7 percent) or keep the same number of employees (76 percent) in the next 12 months. The study revealed that small business firms were interested to start new hiring when there was an increase in sales.