Board of Trade releases mid-year economic report
The St. John’s Board of Trade’s annual mid-year report says 94 per cent of business owners say local economic conditions are “good” or “excellent.”
“The business community feels strongly that we’re in the midst of a boom and that we’re all feeling the effects of this positive growth,” said board chairman Denis Mahoney, according to a news release from the board.
“Public infrastructure up-grades, record low unemployment, and high retail sales, are all made possible by a successful business climate.”
The survey is meant to provide an overview of the St. John’s business climate in the first half of the year. According to the board, more than 70 businesses responded to the survey in July, representing all areas of the economy.
Other results from the survey:
* 42.9 per cent of businesses anticipating hiring in the next year;
* 44.3 per cent of businesses say their financial position is better than it was in 2013;
* 58 per cent of respondents are concerned about not being able to find qualified workers;
* 71.8 per cent of business owners think immigration is key to meeting future labour needs;
* 60.6 per cent of respondents want an international recruitment strategy for the province.
Mahoney was not available for comment Monday.