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1 in 5 small businesses plan layoffs
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The job outlook at America's small businesses is the worst it's ever been, according to new research. Last month, 21 percent of small-business owners said they expected to lower head count over the next six months — the highest percentage recorded by the Wells Fargo/Gallup Small Business Index since its launch in 2003. In July, the last time the data was compiled, just 10 percent of bosses said they planned to shrink employee ranks. More than six in 10 owners said they would keep their workforce steady, while 17 percent said they intended to boost hiring. That's down from the 20 percent of bosses who said the same in July. On the Gallup index, the difference between the companies that plan to raise head count and those that will lower it resulted in a score of -4. A score of 0 indicates equal percentages of businesses planning to increase and decrease hiring. Historically, according to Gallup, the index tends to show a positive figure, even reaching double digits during good economic years. But a number of factors — including the looming "fiscal cliff," the effects of Hurricane Sandy and the recent election results — could be stoking Main Street's pessimism. Such a sour forecast suggests "the potential for a serious decline in jobs early next year," according to Gallup, as well as capital spending reductions down the line. More than a quarter of small business owners said they have cut back on the number of employees they have in the last 12 months, up from 21 percent who said the same in July and reaching the highest level in two years. Just 14 percent of bosses said they increased head count. 
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Today is Saturday, May 18, the 138th day of 2013. There are 227 days left in the year.
1863 -- 150 years ago: A large variety of children's wagons and gigs have arrived in thecity and are being sold at war prices.
1888 -- 125 years ago: All Rock Island retail houses, with the exception of a clothingstore and a jewelry store, have agreed to early closing hours during the summer months.The store will be closed at 8 p.m.
1913 -- 100 years ago: Baseball enthusiasts in Rock Island are attempting to raise$20,000 to keep the Island City Park open, despite the fact that the city has no franchise inorganized baseball this year.
1938 -- 75 years ago: The organization of a third rural young people's unit will beundertaken tomorrow night at the Milan Presbyterian Church, with Mrs. Mildred K.Wellman, home advisor, and Robert Smith, county farm adviser in charge.
1963 -- 50 years ago: Deere & Co. will begin a "big switch" on its telephone systemMonday morning. The extension numbers of all 1,600 telephones on the firm's EastMoline and Moline exchanges will be changed Monday morning.
1988 -- 25 years ago: East Moline's June Jamboree VI -- Nostalgia Days, will seemlike a '60s revival with the appearance of stars like Bobby Vee, Freddie Cannon, PeterNoone, Turtles, The Grass Roots and Lou Christie. This year's festival has beenexpanded to five days, June 22-26, at the Northeast Park complex.
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