California Business Minute™

Hi, I am Tim Johnson and welcome to the California Business Minute.

Bay Area employers are tightening their belts, preparing for a long period of tough
conditions, according to a survey of regional business sentiment by the Bay Area
Council’s quarterly business confidence survey.

About 26 percent of area employers expect to shrink their workforce in the next six
months, compared with 20 percent who plan to hire. Seventy-two percent of those
responding identified that the economy is worse than it was six months ago, while
79 percent expect the economy to stay the same or worsen in the months ahead.

The Council's business confidence index slipped two points since the previous survey
to 39, the second-lowest reading registered since the poll of regional employers was
inaugurated in 2001. An index level below 50 signals negative economic times.

I am Tim Johnson and this has been the California Business Minute.