Survey: Few CEOs Plan To Hire In Next 6 Months

[OhioChick]

31 Percent Expect Decrease In Work Force

11:45 am EST December 8, 2009

WASHINGTON -- More of America's largest companies will shrink their staffs than will hire in the next six months, according to the latest survey of their CEOs.

A quarterly survey from the Business Roundtable released Tuesday found that 19 percent of the CEO expect to expand their work forces, while 31 percent predict a decrease in the next six months. That's slightly better than the 13 percent who expected increased hiring three months earlier. At that time, 40 percent forecast cuts.

The CEOs also expect the overall U.S. economy to grow by 1.9 percent in 2010. That would mark a slowdown from the 2.8 percent pace in the third quarter of 2009. Last quarter's growth followed four straight quarterly declines and was the strongest signal that a recovery from the recession had started.

In more positive news, the group's economic outlook index -- a combination of expectations for spending, sales and hiring -- rose to 71.5, from 44.9 in the third quarter. Numbers above 50 represent economic growth. It was the first time the index rose above 50 since the third quarter of 2008. That survey did not reflect the sharp contraction that hit the economy in the six months that followed.

The number of CEOs expecting to increase capital spending nearly doubled, to 40 from 21 percent. The number forecasting an increase in sales grew to 68 from 51 percent.

A new question on the survey asked CEOs to identify their greatest cost pressures. The largest group -- about one-third -- cited health care.

More: http://www.newsnet5.com/station/21889139/detail.html

[rurallib]

1. bet they also plan on getting big raises.

Well, we can't hire workers and get a big raise at the same time, can we?

[ChromeFoundry]

2. sort of contradicts this LBN story...

http://www.democraticunderground.com/discuss/duboard.php?az=view_all&address=102x4175636

[AllentownJake]

6. Manpower is a staffing firm nt.

[bluestateguy]

3. At a certain point, the government may need to consider ordering them to hire and create jobs

We will ask nicely once, and ask nicely again. The third time the government will not be asking anymore.

[harkadog]

8. Under what authority would that be?

Can't wait to hear.

[Cessna Invesco Palin]

9. You can't just order people to create jobs.

Even if it were legally possible, which it isn't, it doesn't make a lot of sense. Exactly what kind of companies and exactly what kind of jobs would you order created?

[Ilsa]

4. Blackmail. They aren't going to hire until they get a cut in corporate tax rates.

It won't matter if they see a decrease in healthcare costs. They think they can sell their greedy position for themselves and their stockholders since unemployment is over 10%.

I don't trust them any more than I would Dick Cheney.

[Commie Pinko Dirtbag]

5. And they plan to sell their crap to... whom? -nt

[madokie]

7. For the most part the people who control the jobs

would rather President Obama not look good so they'll do just what hiring they have to to keep going but they won't be going out of their way to find new work for new hires.