Survey: Optimism Abounds As Alabama Business Owners Project Hiring, Wage Increases

By Kelli M. Dugan

A tight labor market and mounting economic enthusiasm among business owners could equal more jobs and higher wages for Alabama workers in the next six months.

The findings in PNC Financial Services Group Inc.’s Spring 2018 Economic Outlook survey for Alabama suggest small business owners across Alabama are increasingly optimistic about near-term labor and wage trends despite questions regarding tariffs and tax reform. The bi-annual survey by the Pittsburgh-based company examines hiring, pricing, sales and other economic trends for the state’s small and mid-size business owners.

PNC Chief Economist Gus Faucher said projected hiring and compensation boosts reflect increased economic confidence by Alabama business owners that could lead to the highest rate for wage increases in the six-year history of PNC’s Alabama survey. Faucher pointed to the following key takeaways from the most recent report:In addition, 49 percent of respondents describe their outlook for the national economy as optimistic, compared with only 32 percent in fall 2017. Meanwhile, half are optimistic about their own companies’ prospects for the next six months, compared with only 39 percent last fall.

Please visit Alabama News Center for the Full Article

Tags: exp3

Category: ALL POSTS, Partner News Stories