Don't expect small business to bail the US economy out (Cutting back on new hires drastically)

American Thinker ^ | 12/07/2012 | rick Moran

[SeekAndFind]

Gallup released a disturbing poll that shows US small businesses planning to cut back on new hires drastically over the next 12 months:

U.S. small-business owners expect to add fewer net new jobs over the next 12 months than at any time since the depths of the 2008-2009 recession, according to this November's Wells Fargo/Gallup Small Business Index survey. Small-business owners' net hiring intentions for the next 12 months plunged to -4 in November, down from +10 in July and matching the previous record low recorded by the Wells Fargo/Small Business Index of -4 in November 2008..

The Wells Fargo/Gallup quarterly survey was conducted Nov. 12-16, 2012, with a random sample of 607 small-business owners. The same survey found small-business owners are increasingly pessimistic about their businesses' current situation and their expectations for the next 12 months.

Historically, net hiring intentions have tended to be very positive, with small-business owners expecting to grow and hire more new employees than they will let go over the next 12 months. In good economic years, net hiring intentions have been in the double-digits. This has not been the case since the recession and financial crisis in 2008-2009 with net hiring intentions reaching a low of -4 in November 2008. There was considerable improvement in small-business owners' hiring expectations during much of 2012, prior to the recent November plunge, but now expectations have deteriorated to tie the low recorded in 2008.

In November, 21% of owners say they expect to decrease jobs at their companies over the next 12 months,

[dearolddad]

The only businesses Ubama wants to exist are members of the big-government/big-corporate criminal complex.

I think you may have overlooked unions.

[hinckley buzzard]

Wow. Pissed in your Wheaties, did they?