Survey: CEOs Foresee No Pickup in Hiring

CEOs foresee no pickup in hiring WASHINGTON (AP) - Two-thirds of chief executives of the largest U.S. companies don't plan to hire in the next six months, mainly because of sluggish growth in the United States and financial turmoil in Europe.

The Business Roundtable says that about one-third of its member CEOs expect to add employees and spend more on large equipment in the next six months. That's little changed from three months ago.

The group forecasts that the economy will expand 2 percent next year. That's not enough to produce job growth. Instead, existing employees will be expected to handle any increased business.

"We're right at the point where the economy is growing, but not enough to offset productivity and create jobs," said the group's chairman, Jim McNerney, CEO of the Boeing Co. "Everybody's doing things more efficiently."

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Thank Obama, it is his economy

December 15 2011 at 2:54 PM Report abuse +1 rate up rate down Reply

What we have here is the chicken or the egg situation. Corporations don't want to hire because of slow growth, i.e. lower sales and profits. However, with no jobs, people can't spend and those with jobs are holding back because many fear losing their jobs. If people don't have money, businesses can't flourish. The worker has tightened its belt as far as it can go through previous pay cuts or no raises. It's time that corporations do a little belt tightening of the top tier salaries and use those lucrative bonuses to expand and hire workers. In the end people will begin to spend which, in turn, will me an growth and increased profits for corporations.

December 15 2011 at 2:20 PM Report abuse rate up rate down Reply
1 reply to tonisdal's comment
Larry Berglof

You people are delusional. Exactly when, in time, did you morons get the idea that you had any input in how these corporations conduct their business. Whatever bonuses they pay out are generally tied to productivity, and unless the money was generated from tax payer dollars, (as in obama handouts) it's really none of your damn business. Buy their product/don't buy their product, that's the extent of your involvement. You've all been listening to this Commie-in-Chief way too long.

December 15 2011 at 5:01 PM Report abuse rate up rate down Reply

Every year they screw more work out of the same people, so why should they bother to hire? And when they work someone to death or when someone retires, they can always hire a foreign national to do the same work for less than they would have to pay an American citizen. (They're breaking the law but who is going to report it? The other employees? Ha ha.) And then the CEOs go to the board of directors, "Look at all the money I've saved. Gimme a bonus."

December 15 2011 at 1:55 PM Report abuse rate up rate down Reply

Let's all wake up. Corporations are owned by stockholders. Many unions and institutions are also stockholders.
Corporate compensation AND dividends are determined by the Boards of Directors of the respective corporations.
There aren't evil men sitting on the boards and saying let's screw everybody and keep all the money for themselves. If they don't produce dividends and profits the shareholders can throw them out.
You have a disfunctional congress that allows themselves to have a pension for life after only 2 years of service.
The congress gives themselves better healthcare then the rest of us./
The congress exempts themselves fof laws that apply to us but not them; insider trading, etc.
The president offers no solutions for any of the countries problems.
The former speaker of the house passes a minimum wage bill and then amends the bill to exempt her husbands company from its very provisions.
The Senate majority leader is involved in a land deal in Nevada that would have put any other person in jail but is held harmless.
The Sec. of State made $99,000. in a cattle futures deal that cost her only $1,000
George Soros has benefited from the Pres.'s actions in the Gulf of Mexico oil spill, currency manipulations in the Euro debt crisis, balloting machine contracts, etc.
Pres. Clinton sold advanced radar technology to China in spite of warnings from the Joint Chiefs, State Dep't., CIA, FBI, U.S. Chamber of Congress.......why? Rember Johnny Chen?
All the sanctimonius garbage from the Dems and claptrap about fair share is nonsense.
EVERYONE in congress is out for themselves and really don't care about you or me!
WHY?.....................because no one is willing to find out the truth and hold them accountable.
It's not a Dem or Repub. issue; it's all of them!!!!!!!!!!!!!!!!!!!!!!
If you want an example, email your congress person or senator and ask them why they are exempt from insider trading rules. See if anyone of them even bothers to answer.

December 15 2011 at 1:50 PM Report abuse rate up rate down Reply
Helen Saghy

No wonder. They have to have muti million bonuses at year end for so many people. Who would figure you actually need people to work to make that money?

December 15 2011 at 1:37 PM Report abuse +1 rate up rate down Reply
1 reply to Helen Saghy's comment

Helen do you know that 100% of sales people make commmisions, which are part of the bonus pool and 99.0% dont even come close to 6 figure bonus. Your generalizatiosn make you look stupider than you probably are

December 15 2011 at 2:55 PM Report abuse +1 rate up rate down Reply

They already had a plan in place if the TAXs go up, and that is no jobs and elimate jobs because the ceos and board members are greedy and they don't care about american jobs.

December 15 2011 at 1:32 PM Report abuse rate up rate down Reply

and since when is this news? only a fool ever beleived it would be any different, the government is not cabable of telling the truth

December 15 2011 at 1:29 PM Report abuse rate up rate down Reply

DUHHHHHHH us americans are not as stupid as washington would like to believe nothing is getting better in the us and none of the idiots that are running for the white house have nothng to offer but a bunch of hot air which = lies and congress is nothing but of useless liein theifs

December 15 2011 at 1:26 PM Report abuse rate up rate down Reply

Did they ever think that business isn't picking up because unemployed people don't have any money to buy the products they now have made in China, Vietnam, etc.?

December 15 2011 at 1:15 PM Report abuse +2 rate up rate down Reply

Yeah because theyre pocketing all the 'expand' money as bonuses

December 15 2011 at 1:14 PM Report abuse +1 rate up rate down Reply