29% of small businesses increased their staffing in May, while 21% decreased staffing and 50% saw no change. The small business employment index showed a positive trend for the small business labor market in May after several months of disappointing job growth following tax reform. The report indicates growing optimism among small businesses as the impact of tax reform takes effect, allowing consumers to spend more at small businesses and requiring more labor to meet demand.

1. WWW.CBIZ.COM
SMALL BUSINESS
EMPLOYMENT INDEX
MAY 2018
TRENDING BY REGION
INCREASED DECREASED NO CHANGE
MAY AT A GLANCE
50%
NO
CHANGE
29%
INCREASED
STAFFING
21%
DECREASED
STAFFING
0.12%
2.14%
1.26%
2.52%
“While May’s reading is positive for the small business labor market, it comes on the back of several months of
disappointing job growth in light of tax reform. It represents a growing optimism among small businesses as the
impact of tax reform is being realized. And, consumers who haven’t been meaningfully affected by higher prices at
the pumps could be taking their disposable income to the stores and businesses on Main Street, sparking a need
for more labor to match demand.”
- Philip Noftsinger, Executive Vice President, CBIZ Employee Benefits
TRENDING BY INDUSTRY
INCREASED DECREASED NO CHANGE
6 MONTH OVERVIEW
JAN FEB MAR APR MAY
29 percent of companies increased their employee count, 50 percent did
not make a change to their staff, and 21 percent decreased their headcounts.
DEC
-0.21%
1.39%
-3.14%
1.55%
ACCOMODATION &
FOOD SERVICES
ARTS &
ENTERTAINMENT
FINANCIAL
SERVICES
PROFESSIONAL
SERVICES
REAL ESTATE CONSTRUCTION RETAIL MANUFACTURING INSURANCE
1.78%
-0.20%