U.S. employers added just 88,000 jobs in March, but small-business employment grew by 1.25 percent, a jump over February's 0.2 percent increase, according to the latest CBIZ Small Business Employment Index.
March's job gains were less than half the average of the previous six months, when the economy added an average of 196,000 jobs a month. March's figures also were greatly below February's revised tally of 268,000 more jobs.
The Labor Department uses a survey of mostly large businesses and government agencies to determine how many jobs are added or lost each month. But small businesses were apparently hiring.
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"This month's SBEI shows a 1.25 percent growth rate, which is extremely strong in terms of recent trends," said Philip Noftsinger, business unit president for CBIZ Payroll Services.
Twenty-seven percent of respondents reported to CBIZ that they made hires, while 19 percent of respondents said they reduced their staffing numbers. Another 54 percent of respondents said their employment figures remained the same.
The survey also found that respondents are becoming increasingly optimistic as economic conditions improve. With summer nearing, consumer confidence is playing a large role with higher seasonal employment numbers.
"For the time being, we can expect hiring trends to accelerate as the economic engine begins to outweigh drag forces such as government spending reductions and concerns over Europe's debt," Noftsinger says.
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