NABE Polls Shows US Economy Growing But Few New Jobs

A new survey showed that fewer companies in the United States plan to boost payrolls and to step up hiring in early 2012 even as growth is projected to pick up.

According to the latest industry survey from the largest international association, “National Association for Business Economics� (NABE), it found that two-thirds of respondents expected no change in their companies’ employment over the first half of this year and that was the highest share in recent quarters.

Recent reports showed that the U.S. jobless rate fell to a near three-year low of 8.5% in the month of December, while fewer businesses said that they would hire more workers as compared with the previous industry survey by NABE.

NABE’s latest survey was conducted during the period of December 15, 2011 to January 5, 2012, and the poll found that 65% of respondents expect the GDP (gross domestic product) growth to exceed 2% between the fourth quarter of 2011 and the last quarter of this year.

Nayantara Hensel, chairwoman of the NABE outlook survey committee, said that the optimism reflects growth in the U.S. economy, but the optimism could alter as there’s also ambiguity and that is why they see a degree of caution on employment.

Hensel said that an improvement in the employment rate and retail sales in the United States going into the holiday season may have helped lift the outlook in the latest survey.

The survey reported that nearly two-thirds of the surveyed US companies said that the European debt crisis would have little impact on their sales over the first half the year, while 27% of companies surveyed said that they expected to see a decline in sales of 10% or less.

**********************************************

The Views and Opinions Expressed by the author are his or her opinions only and do not necessarily reflect those of this Web-Site or its agents, affiliates, officers, directors, staff, or contractors. The author at the time of this article did not own any shares or receive any consideration financial or otherwise from any company or person mentioned or referred to in the article.

Tags: boost payrolls, Debt Crisis, Employment, GDP, Gross Domestic Product, hiring, Jobless, NABE, National Association for Business Economics, U.S. economy, United States