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The National Association for Business Economics’ quarterly industry survey of its members for July found less optimism that employment will rise in the next six months than when asked the same question in previous quarterly surveys.
July’s survey found that only 23 percent of the 66 NABE members who responded to the question said their firm’s employment would rise over the next six months. That compares to 39 percent for the April survey and 43 percent for the year-ago July 2011 survey.
Overall, the July survey revealed increased concerns about economic conditions.
“The survey results suggest worsening economic conditions through increased flatness in sales and profit margins; less upward pressure on employment; weakening optimism concerning real GDP growth; and rising concerns about the impact of the European crisis, potential U.S. government spending cuts in January and the expiration of Bush-era tax cuts in December, although there are fewer inflationary pressures,” said Nayantara Hensel, professor of industry and business at National Defense University.
NABE is a professional association for business economists and others who use economics in the workplace.