Why Small Businesses Won't Hire

NEW YORK - Even as the economy extends its growth and small businesses slowly add jobs, most owners are still holding off on hiring.

Many owners have no plans to add to their payrolls, according to recent surveys. In three released last week, the most optimistic reading came from Bank of America Corp., which found that 52 percent of owners plan to hire over the next 12 months. But Wells Fargo & Co. found only 21 percent planned to hire, and in a Citibank survey, 25 percent had plans - numbers consistent with other surveys in the past year.

Some owners who do want to hire face obstacles like finding workers who can and want to do the job. In monthly reports from the National Federation of Independent Business, owners have said they can't find people with the skills they need.

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