According to the latest biannual survey released Monday by the New Jersey Chamber of Commerce and Baker Tilly, Garden State employers are less concerned about the short-term and lingering effects of the Affordable Care Act.
The survey found that just 40 percent of employers said that they believe the ACA has either had or will have some negative impact on their businesses. When the survey last asked the question in the spring of 2014, 52.5 percent responded the same way.
Similarly, approximately half of all respondents said the ACA has had no effect at all on their businesses, up from roughly a third of all employers who answered as such in the past survey.
While only 10 percent of employers noted that the ACA has positively helped their businesses, that figure is up from 8 percent in 2014.
"The level of concern for the Affordable Care Act has lessened compared to how it was when Obamacare was first implemented," said Baker Tilly partner Bob Fodera. "Nevertheless, medical insurance continues to be a major expense for employers, and premium increases endure without an end in sight. Until we manage the expense side, the cost of health care will serve as a growing drag on the economy."
Among their chief economic concerns, employers highlighted the need for qualified job candidates, New Jersey's regulatory environment and state taxes.
While approximately 40 percent of respondents said they expect the economy to improve over the next year, 87 percent expect to maintain or increase staffing levels over that time.
"This welcome hiring trend in New Jersey is consistent with Labor Department findings," said Chamber CEO and President Tom Bracken. "New Jersey's unemployment rate dropped to 5.1 percent in December, as the state added 13,300 jobs in December, including 12,500 private sector jobs, bringing the total new private sector jobs here in 2015 to 64,500."