>Survey shows brighter business outlook, but continued weakness in employment
Businesses in New Jersey have reported a second year of improved sales, profits, spending and employment, according to the 2012 Business Outlook Survey conducted by the New Jersey Business & Industry Association.
The survey, released today, also revealed a moderately improved outlook for sales, profits and spending in 2012, but the outlook for employment remains weak.
“New Jersey is making progress towards a full recovery, but we aren’t there yet,” said NJBIA President Philip Kirschner. “There is some improvement, but many businesses continue to struggle, and they are understandably reluctant to hire.”
Nearly twice as many companies reported laying off employees as reported hiring in 2011, leaving the survey’s current-employment indicator at a negative level for the fourth consecutive year. The forecast for 2012 shows only 15 percent of companies plan to hire, 13 percent will make employment cuts and 71 percent will remain stable. (Bourbeau, NJBIZ)
