This Day On The Street
Continue to site right-arrow
ADVERTISEMENT
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here
TheStreet Open House

Majority Of New Jersey Businesses Will Increase Hiring In 2014, Says Just-Released Provident Bank 2013 Business Barometer

Stocks in this article: PFS

Even though the national current unemployment rate is hovering around 7%, New Jersey business owners are optimistic about their hiring plans for 2014, with nearly 60% saying they plan to hire additional full- or part-time employees next year, according to a recent survey by Provident Bank, http://www.providentnj.com, the oldest community bank operating exclusively in New Jersey for nearly 175 years. Further, Provident Bank's 2013 Business Barometer, which surveyed more than 300 business owners and members of executive management of New Jersey-based businesses, revealed that 78% are either very or somewhat optimistic about their business outlook for 2014.

“While the recovery has been slow and Superstorm Sandy was a decidedly defining setback for businesses here in New Jersey, our research underscores a compelling outlook among New Jersey’s business leaders here that better days lay ahead,” said Provident Bank President and CEO Chris Martin.

The 2013 Business Barometer revealed, however that this sense of optimism is somewhat tempered by a good dose of reality and the lessons learned over the last half a decade. The vast majority of business owners did not borrow money for their businesses in 2013, with 79% saying so. Another 68% said they do not plan to borrow in 2014 either, citing the economy and consumer confidence as among their two top business concerns.

Other important business concerns that respondents cited were the country’s political climate, New Jersey’s property taxes and the state’s own political climate.

“These have been challenging years for New Jersey businesses, and the political and economic uncertainty have understandably impacted business owners’ willingness to overextend themselves and take on additional debt. But, all things considered, the survey revealed just how resilient business owners are here, how eager they are ready to embrace the next business cycle and are poised for growth,” noted Martin.

1 of 3

Check Out Our Best Services for Investors

Action Alerts PLUS

Jim Cramer and Stephanie Link reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

Jim Cramer's protégé, David Peltier, uncovers low dollar stocks with extraordinary upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
Try it NOW
Try it NOW
Try it NOW

Check Out Our Best Services for Investors

Dividend Stock Advisor

Jim Cramer's protégé, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Options Profits

Our options trading pros provide over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • Actionable options commentary and news
  • Real-time trading community
Try it NOW
Try it NOW
Try it NOW
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!

Markets

DOW 17,387.21 -291.49 -1.65%
S&P 500 2,029.55 -27.54 -1.34%
NASDAQ 4,681.4970 -90.2660 -1.89%

Partners Compare Online Brokers

Free Reports

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs