A late-summer poll of 5,618 small businesses found that 63% have implemented hiring freezes, Alignable reported.
The results increased from July’s rate of 45% of small businesses reporting hiring freezes. Of the respondents, 49% reported previously seeking to add workers earlier in 2022, “but ended their recruiting based on sky-high payroll expenses, recessionary fears and reduced revenues,” Alignable stated.
The percentage of small businesses reporting layoffs also jumped from 4% in July to 10% in August.
The full Alignable report can be found here.
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