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PNC study shows state businesses have few plans to hire


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A recent PNC Bank survey showed even without the threat of the “fiscal cliff,” most small and mid-size business owners still don't plan on making any changes to their work staff.

The biannual PNC Economic Outlook Survey for Pennsylvania showed only 6 percent of employers plan to hire more full-time employees and 6 percent plan to reduce full-time staff.

Most of the remaining employers surveyed, about 85 percent, said they plan to stay as-is on staffing for the next six months.

Those results reflect a more negative view than the national average, where 16 percent of businesses plan to hire full-time employees, 8 percent plan to reduce staff and 73 percent will make no changes.

The survey also found that only about a quarter of business owners are optimistic about their company’s prospects for the next sixth months, while about 18 percent are pessimistic. When the survey was conducted in the spring, 20 percent were optimistic and 20 percent were pessimistic.

Some other findings:

• About 42 percent believe the rising interest rate will hurt their businesses.

• About 81 percent say the Affordable Care Act will have no effect on their businesses.

• Loans will be in low demand, as only about 15 percent of businesses will probably/definitely take out a new loan in the next six months, versus 18 percent last spring.

Michael Sadowski

Michael Sadowski

Mike Sadowski covers Lebanon County, banking and finance, law and the legal community, and technology. Have a tip or question for him? Email him at Follow him on Twitter, @MikeCPBJ. Circle Michael Sadowski on .



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