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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 25, the 145th day of 2013. There are 220 days left in the year.
1863 -- 150 years ago: The annual review of the fire department of this city took placeyesterday and made a fine showing with machines and hose carts in tip-top order.
1888 -- 125 years ago: Last night's prayer meeting at Central Presbyterian Church wascalled off due to water in the basement, residue of last week's flood.
1913 -- 100 years ago: The junior class of Rock Island High School will hold a riverexcursion on the steamer St. Paul next Tuesday.
1938 -- 75 years ago: The 75th Anniversary of the Rock Island Arsenal today finds thenation's largest ordinance manufacturing plant filling many important orders for the army.
1963 -- 50 years ago: Miss Patrice Daly, Rock Island, a senior at Rock Island HighSchool, won second place in the recent state public speaking contest held in Peoria underthe auspices of the Knights of Pythias.
1988 -- 25 years ago: Hampton's sesquicentennial committee and the Hampton HistoricalSociety have scheduled a full slate of activities, which will be held throughout the year, to celebrate the village's 150th birthday. The first celebration will be the Memorial Dayprogram at 10 a.m. May 30, at the Brettun and Black Store Museum on River Road. Therewill be a sesquicentennial display.
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