Looking for a Job in NJ? 2016 Could be Your Year
If you’re looking for new employment opportunities in 2016, this should be encouraging.
A new survey by Bank of America Merrill Lynch of 500 chief financial officers (CFOs) at companies across the U.S. found they are generally optimistic about the American economy, and many are planning to hire more workers next year.
Can New Jersey expect the same outlook? One of the state's top business groups said yes.
“Company bosses are feeling positive in 2016. They are looking forward to continue to hire, create new jobs. They’re also looking forward to continuing to have good return on their investment in terms of profit and sales," said Michele Siekerka, president of the New Jersey Business and Industry Association.
The upswing in expected hiring comes at a time when New Jersey's economy is also on the way up.
“The economy in New Jersey is on an upward trajectory, all be it very slow and steady," Siekerka said.
And while things have improved since the Great Recession in New Jersey, businesses remain cautious, according to Siekerka
“They’re cautiously optimistic because they have concerns about regulatory and political uncertainty. Our businesses say all the time that they need predictability,” Siekerka said.
This is the case so when they make an investment they know they’ll be around to see a return on that investment, according to Siekerka.
“While businesses feel good about their industry and their ability to grow, they remain cautious about how the state in-and- of-itself is progressing overall,” Siekerka said.
The survey also found CFO’s are concerned about rising health care costs and they view weak domestic demand as the biggest threats to company earnings. Lesser threats include a strong dollar and weak global demand for products.
Only 5 percent of those polled expect to lay off workers next year.