Tuesday Jul 17, 201212:43 AM GMT
Poll: Fewer US companies planning to hire; Europe looms
Tue Jul 17, 2012 12:42AM
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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



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