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Fri Jun 8, 2012, 09:38 AM


CEOs Lose Their Optimism as Job Slowdown Imperils U.S. Growth [View all]

By Chris Burritt - Jun 8, 2012

U.S. chief executive officers are turning more pessimistic about a second-half recovery as rising unemployment and Europe’s debt turmoil threaten domestic growth prospects.

CEOs from General Motors Co. (GM) to Hewlett-Packard Co. (HPQ) to Manpower Inc. say they are concerned about the health of the U.S. economy. While economists predict a continuing expansion this year and next, executives see a mounting number of obstacles that could clip growth.

U.S. employers added the fewest number of workers to their payrolls in a year last month, while companies including Tiffany & Co. (TIF) and mattress maker Tempur-Pedic International Inc. (TPX) cut their full-year forecasts. European policy makers are also struggling to resolve a crisis that has tipped at least eight of the 17 euro-area economies into recession. The U.S. presidential election is another area of concern, CEOs said.

“There are so many uncertainties,” said Jeffrey Joerres, CEO of Manpower (MAN), the Milwaukee-based provider of temporary workers. “If these uncertainties keep stacking up and none get resolved, we’ll see a hiring pause rather than the current slowdown.”



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Reply CEOs Lose Their Optimism as Job Slowdown Imperils U.S. Growth [View all]
Purveyor Jun 2012 OP
BeyondGeography Jun 2012 #1
rfranklin Jun 2012 #2
progree Jun 2012 #3
elleng Jun 2012 #6
JohnnyRingo Jun 2012 #4
elleng Jun 2012 #5