The CBIZ Small Business Employment Index (“SBEI”) reported a seasonally adjusted decrease of -0.89%, deviating from historical hiring trends in March. 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. While March has historically boasted over 1% employment gain, this year’s decrease is an early indication of the coronavirus pandemic’s impact on the small business sector.
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