Hiring opportunities set to increase, say economistsAugust 5, 2013 | Posted at 10:22 am
The positive vibes surrounding the United States economy show few signs of disappearing, with a recent survey of economists indicating that employment opportunities would continue to rise over the next 12 months.
According to The Associated Press, nearly 33 percent of respondents to a study conducted by the National Association for Business Economics (NABE) confirmed that their companies added staff in the April-June financial quarter, with 39 percent reporting that they would be hiring before the end of the year. The survey also showed that overall confidence in the economy was also high, with 75 percent of those interviewed predicting a future economic growth of around 2.1 percent.
While the data sample was small – the NABE surveyed 65 of its member economists – the expected increase in hiring was reflected across a broad range of industries represented by the association. All of those who took part in the study work for companies engaged in finance, utilities, retail, manufacturing and professional services, all of which are considered to be good barometers for the overall health of the employment market.
Sources at the NABE confirmed that the increase in hiring occurred even as sales and profits dropped slightly, with only 35 percent of economists answering that sales had increased in the last financial quarter. There was also an increase in the amount of companies who claimed that government spending cuts and tax increases were impacting their business, with 26 percent of those interviewed revealing a negative impact through government policies, a rise of 10 percent from the previous quarter.
Away from the hiring environment, the survey also showed that the biggest concerns were in rising interest rates, with 17 percent of respondents citing this as a significant factor. There was also a significant number who saw the global economy as impacting on U.S. exports, with nearly 33 percent admitting that the financial situation in Europe and the slowing of growth in China could potentially have an effect on future plans for their companies.