Quarter 2 Prosperity Pulse Survey Results Are In

The Ohio Chamber of Commerce Research Foundation released the findings of its quarterly business leader’s survey today.  The Quarter 2 findings reveal the following:

  • The statewide Prosperity Pulse moved up slightly from a 5.0 to 5.1 in Q2, with an anticipated uptick for Q3 at 5.4.
  • Although anticipated profit growth in Q2 was not realized, expenses were kept significantly lower, allowing profits to continue to outpace expenses.
  • 74% of business leaders are optimistic about the economic climate.
  • Workforce worries increased as employee numbers slightly decreased or didn’t increase as anticipated.
  • Workforce worries also weigh heavy on the minds of many of the state’s top business sectors: Finance/Insurance, Manufacturing, Transportation/Logistics, Construction and Healthcare.
  • Leaders listed several barriers to attracting/hiring employees that included:
    • Lack of strong work ethic
    • Lack of skills, experience and qualifications
    • Employers inability to meet salary & benefit expectations

The Prosperity Pulse is presented on a 1 to 10 scale[1] and measures profits, workforce, capital investments and expenses to aggregate an index.  Over 400 responses were received. The full report is on our website http://ohiochamberfoundation.com/wp-content/uploads/2016/07/Q2-Prosperity-Pulse-Summary-Report.pdf

“Ohio business leaders managed well in the 2nd Quarter and are optimistic about the future overall economic outlook,” stated Katie Koglman, Executive Director.  “Yet, they are expressing growing concern about the availability of a quality workforce.  In addition, survey results display a clear connection between business decisions and government  activity. In Q2 we saw heighted concern about state and local taxes, possibly because the survey was conducted during debate on the state budget.  We also saw concern levels drop about employee healthcare.  No coincidence that we were surveying leaders when the US Senate was debating healthcare reform, and at the time it appeared as though a reform deal would get done.  This correlation is something we will continue to track over the next two quarters of 2017.”

For more information, including a summary report, full report and additional cross tab details please contact Katie Koglman at 614.629.0921 kkoglman@ohiochamber.com or visit  www.ohiochamberfoundation.com/projects

[1] A high score of 9.1 – 10 would mean Ohio businesses were thriving and flourishing and economic health would be robust, while a low score of 1 – 2 would mean they’re encountering significant challenges and the economic health would be weak.

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