Local Companies Say High Gas Prices Hurting Business


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(Sacramento, CA)
Thursday, June 2, 2005

52% of the Sacramento area’s leading employers say the unexpected costs of high gas prices are hurting business.

Rick Reed of Pacific Staffing Employment, which polled 100 top companies, says 10% of the companies say higher prices at the pumps are eating up the money available for giving workers raises. "People are telling us its lowered profits, its slowed business its raised prices for their products, they’re adding fuel charges to their orders, deliveries are going to cost you more, reducing flights for meetings for their business people and they’re curtailing sales road trips and employee gas card use as a result of these increased prices."

And he says the number of companies that plan to hire in the next two months is down: 68% say they’ll be looking for new workers, that’s down from the last poll when 82% were actively seeking staff.