Economic Outlook Suggests Some HiringPosted: Updated:
PNC Financial Services Group Inc. has released its 2014 Fall Economic Outlook for small and mid-sized businesses in Indiana. The research indicates 13 percent of small business owners are planning to add jobs over the next six months. You can view the outlook results by clicking here.
October 2, 2014
PITTSBURGH, Penn. - PNC's latest survey of Indiana small and mid-sized business owners shows there has been a plan to increase staffing or compensation over the next six months. Business owner optimism remains about the same with a slight increase in pessimism.
In the Fall 2014 survey, 13 percent of area small businesses plan to add full-time employees in the next six months compared to 9 percent six months ago. Of those not hiring, 40 percent say they need sales to increase 3 percent or more to add workers.
Other notable findings from PNC's Fall Economic Outlook Survey:
-Optimism - There has been little increase in optimism over the past year, with 12 percent optimistic about their own company's prospects during the next six months, compared to 8 percent from six months ago.
-Sales and profits - Expectations for sales and profits are down from spring, with 40 percent planning for increased sales and 35 percent hopeful for increased profits.
-Weather Woes Linger - Nearly half were adversely affected by the extreme weather conditions at the start of the year. Of the 48 percent affected, 47 percent say their business has yet recovered completely.