Small businesses and minority businesses were hard hit by the recession, especially manufacturing and construction. The Gazelle Index survey shows they plan to increase future hiring.
Unemployment went down in December from 8.7% to 8.5%. But more importantly, jobs increased in industries hardest hit by the recession, manufacturing, construction and retail.
The Gazelle Index survey shows that hiring will increase in 2012; 27% of small businesses will increase hiring and 14% will cut. We forecast a 7.8% or lower unemployment rate.
Small business owners want the Presidential candidates to cut business taxes (especially Hispanic businesses) and make bank loans more easily available (particularly black business owners).
The Gazelle Index staff wishes you a prosperous 2012 We encourage you to set high goals for your business and your health and wellness.
Small businesses owners differ in what they want out of Presidential candidates. Hispanic businesses strongly prefer lower taxes, black businesses want more access to loans and credit.
Based on a national survey of small business CEOs, reducing the minimum wage would have the smallest positive effect on hiring among all policies. If the government does nothing, it will also hurt small business hiring.
The cause of high unemployment is not the lack of job skills, it is the lack of jobs. Almost 75% of the jobs that have not been restored are in construction, retail and manufacturing; 22% of the unemployed are black workers.
The unemployment crisis is primarily caused by our inability to create enough job creating innovative companies. In addition, to create jobs we need to first solve the housing crisis.
The Gazelle Index expects to see significant hiring in 2012, growth projected at 3% and unemployment at 7.8%. Corporations are starting to invest, consumers are spending more, housing starts are improving.
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