The latest survey of Maryland business activity by the Baltimore office of the Federal Reserve Bank of Richmond continues to show optimistic hiring plans.

Survey respondents anticipate a strong increase in labor demand despite the current weakness in the labor market and uneven business activity. Looking at respondents’ expectations six months from now, the number of employees and hours worked indexes remained strong in January after a sharp increase in December. Close to a majority of respondents indicated that they will be expanding their workforce over the next six months.

Expectations of economic activity six months from now remained strong in January. The expectations index for general business activity at respondent’s companies eased to 55 from 60 last month. Expectations for sales, customer traffic, and investment also moderated slightly but remained at very high levels. Expectations of economic activity for the state and national economy also remained firm registering 47 and 46, respectively.