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Washington Post: Small-business owners pessimistic about economy
The combined impact of bad numbers has created real pessimism for small business owners who are recieving the brunt of the Obama policies!
August 10, 2011
The Washington Post
Tim Devaney
Small-business owners are continuing to lose faith in the economy, fearing it is more likely to deteriorate than improve.
The Small Business Optimism Index tumbled 0.9 points to 89.9 in July, the fifth consecutive month the index has declined, according to a survey released Tuesday by the National Federation of Independent Business.
“Small businesses have become considerably more pessimistic in their outlook since the beginning of the year,” said Chris Christopher, U.S. economist for IHS Global Insight. “Small-business optimism has soured. … This report is not good since small businesses are feeling the brunt of this sluggish economic recovery.”
These companies expect lower sales and do not think they can increase prices, Mr. Christopher said, a situation that adds to worries about taxes and government regulation.
The report also finds that the “prospect for job creation is bleak.” Fewer employers plan to increase hiring, while more plan to reduce their workforce.
The small-business survey was joined by more bad labor-market news in figures released Tuesday by the Labor Department that found workers were less productive in the spring for the second straight quarter.
The productivity rate slipped 0.3 percent from April through June, after dropping 0.6 percent from January through March. It’s the first time productivity has dropped in back-to-back quarters since the height of the Great Recession.
Labor costs also rose, according to the Labor Department survey, going up 2.2 percent in the spring quarter, on top of a 4.8 percent increase at the beginning of the year.
Read the rest of the article on US Chambers web site: http://www.friendsoftheuschamber.com/article/small-business-owners-...
Views: 36
Comment
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Comment by Patricia M. McBride on August 10, 2011 at 12:04pm
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That lunatic in the white house has been writing or having his folks write regulation almost non stop. It makes it so a business can't breath at all. He must be stopped, and another year is too long. Many folks are at the end of their ropes. Thanks for all the great info JL (as usual)!
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Comment by JL Gawlik on August 10, 2011 at 11:45am
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Did you see the videos that i posted here? One was a business woman and another was a man both about the state of the economy:
http://www.fctpcommunity.org/profiles/blogs/small-businesswoman-oba...
http://www.fctpcommunity.org/profiles/blogs/are-you-kidding-me
The business atmosphere is so fragile out there it is scary.
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I listened to a man this morning being interviewed on FOX, he had a british accent, i did not catch his name but he was expert of some sort and he said Obama is completely financially illiterate, and is clearly not a leader and should not be running a country. He also went on to state he never in his life time had seen so many headless, clueless leaders of countries not facing their country's real financial problems and not solving them. He said the problem is world wide. Each country is hedging that another country will solve the financial problems that affect them. He stated Obama's statement saying that Europe was the cause of the stock market fall last week was only part of the problem and irresponsible when the US has great debt financial problems of their own that is affecting the world markets and until EACH country deals with their debt problems nothing is going to be solved and that we are on the brink of loosing Democracy in the world if it is NOT dealt with.
That was quiet sobering to hear. He stated that he had never seen so many inexperience headless chickens running so many countries in his lifetime. I wished i had caught his name, by the time i focused on seeing his name he was off screen.
Even my son states all we have to do to start it all up is to repeal the massive bills that were passed, lift drilling and mining bans and you will literally put millions to work within weeks.
Oh the man speaking also commented that when a nine year old girl in the United States of America is slapped with a $300 fine for selling lemonade and told that she must get permits to do so something is very wrong in America. I LOVE that statement, he said the Founding Fathers' would be aghast to hear that because that is NOT what they intended for America.
Government regulation is strangling America. Just last week the government unleashed over 600 more regulations.
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