If you ask readers of The Sacramento Business Journal, the answer is unfortunatley, not very good.
Fifty-one percent of companies say the economy continues to be “brutal,” while 48 percent of executives surveyed say the “recession is easing up,” according to a just-released quarterly report by Pacific Staffing.
The Sacramento company contacted 71 companies for its survey, with the economic forecast heavily dependent on the industry.
For example, construction companies are the most pessimistic about an economic turnaround, with 13 percent expecting economic hardship to continue, while 2 percent are optimistic for a recovery soon. Retailers — one of the hardest-hit industries — are the most optimistic, with expectations of a much-improved fourth quarter. Manufacturers and service companies were split on their outlook.
Also, 52 percent of companies contacted expect to hire during the fourth quarter, but much of the demand is because of attrition. But companies expect to hire more during the next three months than any period this year, and a dramatic improvement from a record-low outlook in the first quarter.