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Tuesday, May 28, 2013

Poll: More U.S. Small Businesses Letting Workers Go Than Hiring

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.

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)

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