Corporate Chiefs Guarded about Hiring Trends in 2013: Survey

By Staff Reporter | Dec 13, 2012 06:44 AM EST

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In  Business Roundtable's latest chief-executive survey, it was revealed that U.S. corporate biggies are positive about the economic condition in 2013 but at the same time cautious about hiring for the first six months. The survey report was released on Dec. 12, reported Market Watch.

Business Roundtable is an association of Chief Executives of various companies.

Most of the CEOs stated that due to the looming spending cuts by the government and awaiting tax increase issue, they would not increase any capital spending on hiring at least for the next six months, reported Wall Street Journal.

However, their Gross Domestic Product growth forecast experienced a boost of 2.0 percent for 2013.

"The continued softness in quarterly sentiment reflects deep uncertainty about the future overall economic climate, realities of a slow-growing economy and frustration over Washington's inability to resolve looming 'fiscal' cliff issues," said Jim McNerney, CEO  of Boeing Co. and chairman of the Business Roundtable, to NASDAQ.

48 percent of the esteemed respondents claimed that capital expenditure on hiring will remain constant while 23 percent said that it would slow down. 42 percent of the CEOs expect no alteration in the payroll records for the next six months while 29 percent will be slashing down jobs. 58 percent feel that the sales figures would accelerate in the coming year, according to the figures revealed in the survey, reported NASDAQ

The survey also found that in the coming six months, regulatory costs would be the highest cause of concern, closely followed by labor and health-care costs, reported Market watch.

Hundred and forty three members of the Business Roundtable participated in the survey, stated Wall Street Journal.

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