News on the employment front continues to affirm a slow jobs recovery. As the chart below shows, small businesses remain very cautious about adding staff. Only 19% are reporting they plan to add staff. The chart below shows the results of a survey conducted in late June by Harris interactive for the US Chamber of Commerce.
The chief reason for this lack of hiring? More than half of the small businesses cite economic uncertainty as the main reason for holding back on hiring. Only 7% cite a lack of available credt, while about 1/3 cite lack of sales.
To me this contiues to affirm our view that until there is less uncertainty in the global economy, the jobs recovery will remain weak.