Reuters: Small Business News: Fewer U.S. companies planning to hire; Europe looms: poll

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Fewer U.S. companies planning to hire; Europe looms: poll Jul 16th 2012, 04:15 Tweet Share this Email Print Related News Consumers gloomier on jobs, finances Fri, Jul 13 2012 Jobless claims fall as plants put off retooling Thu, Jul 12 2012 Trade deficit narrows on exports, cheaper oil Wed, Jul 11 2012 Small business optimism falls sharply in June Tue, Jul 10 2012 Wall Street slips on global economic worries Mon, Jul 9 2012 Related Topics Small Business » Money » Euro Zone » Job seekers speak to recruiters at a job fair sponsored by the New York Department of Labor in New York, June 7, 2012. Credit: Reuters/Keith Bedford WASHINGTON | Mon Jul 16, 2012 12:15am EDT WASHINGTON (Reuters) - American companies are scaling back plans to hire workers and a rising share of firms feel the European debt crisis is taking a bite out of their sales, a survey showed on Monday. Only 23 percent of the firms polled in June plan to add to staff in the next six months, the National Association for Business Economics said on Monday. NABE's prior survey, conducted in late March and early April, had shown 39 percent of companies planning to add workers. Already, hiring by U.S. companies has slowed dramatically in recent months as employers worry about a sagging global economy hurt by Europe's snowballing debt crisis. Some economic data has suggested at least some of the hiring slowdown has been due to caution rather than a decline in business. A July 6 Labor Department report, for example, showed companies asked employees to work longer hours last month, even though they slowed the pace of hiring. The NABE survey suggests such caution on hiring could continue. The poll showed 47 percent of companies polled felt their sales have dropped due to Europe's woes. Among companies that produce goods rather than provide services, the impact was even greater, with nearly four in five reporting a Europe-driven decline in revenues. Three months earlier, only about a quarter of total firms polled thought sales had fallen. NABE surveyed 67 of its members between June 14 and June 26. Not all responded to every question. About 40 percent of the firms surveyed have more than 1,000 employees. (Reporting by Jason Lange; Editing by Chizu Nomiyama) Tweet this Link this Share this Digg this Email Reprints We welcome comments that advance the story through relevant opinion, anecdotes, links and data. If you see a comment that you believe is irrelevant or inappropriate, you can flag it to our editors by using the report abuse links. Views expressed in the comments do not represent those of Reuters. For more information on our comment policy, see http://blogs.reuters.com/fulldisclosure/2010/09/27/toward-a-more-thoughtful-conversation-on-stories/ Comments (1) They cannot afford to hire if Obama is reelected. Layoffs in that case. Massive layoffs and outsourcing. Jul 15, 2012 12:20am EDT  --  Report as abuse See All Comments » Add Your Comment

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