More U.S. Small Businesses Letting Workers Go Than Hiring Hiring intentions for the next 12 months flat versus January, but below a year ago
by Dennis Jacobe, Chief Economist
PRINCETON, NJ --
More U.S. small-business owners report letting employees go than hiring them on average over the past year, for a net hiring index of -12 in April, according to the Wells Fargo/Gallup Small Business Index survey. This is on par with -10 in January and -9 in April 2012.
These results are from the quarterly Wells Fargo/Gallup Small
Business survey, conducted April 1-5, 2013, with a random sample of 603
Small-business owners' self-reported net hiring has remained at a
similar level since January 2011, but is up from the low of -27 recorded
in January 2010.
At the same time, four in 10 small-business owners say they have held
back on hiring, and one in five owners say they have let employees go,
due to the healthcare costs
associated with the Affordable Care Act. As implementation of the law
continues, the number of small-business owners who take these steps
could increase. (Full Story at Gallup)