Human Eventsby John Hayward
The U.S. Chamber of Commerce released a grim quarterly report this week that found â€œthe small business outlook on the U.S. economy continues to decline.â€ The percentage of small businesses planning to add a few employees declined from 18% to 16% in the second quarter, while those with plans to add â€œmanyâ€ employees remained stuck at 1%.
This isnâ€™t primarily due to flat sales. That was actually the #3 reason for holding off on making new hiresâ€¦ and it was virtually tied with dread of ObamaCare. The number of businesses citing ObamaCare as their top concern continued to grow.
Eighty percent of small businesses responding to the Chamber of Commerce survey said they would rather have Washington â€œget out of the wayâ€ than â€œoffer a helping hand.â€ Fat chance, guys. The past failures of the political class are invariably viewed as reasons for more power and control.
Small businesses are the primary engine of job creation, as everyone right up to President Obama agrees. Their reluctance to hire anyone is a troubling sign of the long unemployment wasteland stretching ahead. Making things worse is the growing trend toward long-term unemployment. A rising number of people have become, in a word, unemployable.
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