Small business hiring woes show signs of easing as economy stays strong

Hiring woes may be easing for small businesses. The CBIZ Small Business Employment Index reported a seasonally adjusted increase of 0.17% in February as the U.S. economy stays strong despite high interest rates. Small businesses have a tougher time retaining workers since they often can’t offer higher salaries or other perks like health insurance. The CBIZ index tracks hiring among thousands of companies with 300 or fewer employees across the U.S. In February, 20% of companies in the index hired more staff while 60% made no change to their headcounts. Meanwhile, 20% cut staff.