U.S. firms are
getting nervous about the transatlantic effects of Europe's debt crisis-and
fewer of them foresee hiring anytime soon. In early April, 39% of U.S. companies
polled planned to hire sometime within the next six months; by June that figure
was down to 23%, the National Association for Business Economics finds.
And Europe could
be part of the reason why. The NABE survey found that 47% of companies believe
European troubles have hurt their sales figures, Reuters reports; that
percentage stood at about 25% in the earlier poll. Newser
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.
cnbc.com 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. cnbc.com The NABE survey
suggests such caution on hiring could continue. cnbc.com 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.
chicagotribune.com 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.
chicagotribune.com
SM/KA
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