LOST OPPORTUNITIES LEAD TO FLAT LINING OPTIMISM INDEX

Date: September 08, 2015

LOST OPPORTUNITIES LEAD TO FLAT LINING OPTIMISM INDEX

Trenton (September 8, 2015) – On par with the less than
impressive summer optimism readings, NFIB’s Small Business Optimism Index
gained 0.5 points last month reaching 95.9 as five of the components posted
gains, three fell and two remained unchanged. 

 

“The sentiment of small business owners in New Jersey is
clearly mirroring those of their cohorts nationwide. When it comes to looking
toward the future and considering expansion, small business owners are actually
less optimistic now than they were just last month,” Said NFIB New Jersey State
Director, Laurie Ehlbeck. “It’s time for lawmakers to take note and come up with
ways to reduce state regulation and improve the economic environment.”

 

Two Index components, job openings and earning trends, both
posted a solid 4 point gain, but there was not much action in the remaining
eight components.  Only a net 1 percent
of owners reported raising prices while employee compensation remained at
expansion high levels.  Hiring, capital
spending and inventory investment plans remained basically unchanged,
collectively adding 2 points. The two outlook components collectively declined
4 points showing no optimism about future business conditions or expansion
opportunities.  The index reading of 95.9
was again well below the 42 year average and is consistent with reported
economic growth of about two percent for the first half of the year.     

 

“Trenton continues to make no progress dealing with the
issues most important to small business owners so it is no wonder that we have
been unable to turn around the economic climate which has become downright
hostile. Although Governor Christie has been able to stave off some disastrous
bills, legislators have missed tremendous opportunities to help create jobs and
improve tax structure. Had they been willing to send the Governor pro-business
legislation, New Jersey would be looking at an economic boom instead of more uncertainty,”
Concluded Ehlbeck.

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