NABE survey

The National Association of Business Economics (NABE) reports the highest reading in firms employment plans over the next 6 months since January 2008. Despite the jobs market losing momentum in the last few months, NABE reports the layoff and attrition activity has declined to 14% of respondents from 28% a year earlier. 42% of respondents in the goods producing sector reported increased hiring intentions up from zero in January. The service sector is less positive with 36% planning to hire more workers, 4% making layoffs and the balance unchanged. The survey also found that about a quarter of respondants reported increased capital spending in the current quarter, however this time the finance, insurance and service sector dominate, whilst transportation, utilities, information and communications reported no increase