CEO Confidence Down - BUT Hiring to Pickup

Posted by Expert Gadget Reviewer on Thursday, 8 April 2010

CEO confidence as measured by the Conference Board CEO Survey declined from 64 in the fourth quarter of 2009 to 62 for the first quarter of 2010. A reading of more than 50 points reflects more positive than negative responses.

CEOs also indicated uncertainty about the future, with 52% of business leaders expecting economic conditions to improve over the next 6 months, down from 58% last quarter. On the bright side: More than 30% of CEOs expect an increase in employment levels in their industry, up from less than 3% a year ago.

Also from the Conference Board; the Employment Trends Index (ETI) rose in March for a seventh consecutive month. The index is now at 94.4, up from February's 93.7. The index is up 5.5% versus a year ago, and over the past three months, all eight components of the index have been improving.

The ETI measures:
•Percentage of Respondents Who Say They Find "Jobs Hard to Get" (The Conference Board Consumer Confidence Survey®)

•Initial Claims for Unemployment Insurance (U.S. Department of Labor)
•Percentage of Firms With Positions Not Able to Fill Right Now (© National Federation of Independent Business Research Foundation)
•Number of Employees Hired by the Temporary-Help Industry (U.S. Bureau of Labor Statistics)
•Part-Time Workers for Economic Reasons (BLS)
•Job Openings (BLS)
•Industrial Production (Federal Reserve Board)
•Real Manufacturing and Trade Sales (U.S. Bureau of Economic Analysis)