Will Job Recovery Begin in 2013?

The unemployment rate in the United States has remained over 8% since February 2009 and one of the most common questions about the economy is when will significant and sustained job growth return.  The 2012 NYSE Euronext CEO Report, released on August 27th, provides some interesting answers and insight into this subject matter.

The outlook for U.S. employment in 2013 really depends on whether you are talking to listed company CEOs or small-business owners.  According to the CEO Report, most CEOs are planning to add jobs (62%), although generally they are planning to increase their workforce by 10% or less.   Most small-business heads, however, say they will be making no changes (61%), although one in three (34%) say they are planning to bring on one or more employees.  There are some interesting differences among small-business people.  Small businesses, with annual revenues of $1 million or more are almost as likely as CEOs to be planning to add employees (57%), while only one-quarter of small businesses with revenues under $1 million are planning on hiring more workers.

What will these new employees be doing?  About half of CEOs who will be hiring will be looking for sales professionals (51%), followed by additional employees for manufacturing (31%), general management (30%) and marketing (30%).

ORC’s Social Buzz analysis found that topics surrounding employment and job recovery are being mentioned every .27 seconds in the online world, which comes as no surprise, particularly since it’s the time of the GOP and Democratic conventions and impending presidential election. The daily volume of conversation and relating sentiment has been moderately sporadic over the past year, but in the past month the sentiment has leveled off to being 48% negative.

The weak hiring levels among small businesses with less than $1 million in revenue are particularly important since a majority of both U.S. CEOs and small-business people expect that over the next three years most new private sector jobs will be created by small entrepreneurial companies.  This year’s CEO Report also shows what role capital financing is having on CEOs and small-business owners  growing their companies, as well as what actions they think would do the most to help accelerate the growth of permanent jobs.

340 CEOs of companies listed in the NYSE Euronext markets spanning in 26 countries and 285 U.S. small-business owners took this survey conducted by ORC International to produce the findings discussed. Considering 96% of CEOs and 87% of U.S. small-business owners rate current global economic conditions as fair or poor, their views overall will likely provide critical insight for political candidates and policymakers particularly in the months to come.

Tags: , , ,

Categories: Politics

Author:Robert P. Furr

Senior Project Manager at ORC International

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One Comment on “Will Job Recovery Begin in 2013?”

  1. anna4orc
    October 17, 2012 at 10:29 am #

    Reblogged this on ORC people talk.

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