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Quicker Employment Recovery Expected Outside Europe and the U.S.
added: 2010-06-11

Job growth will occur more quickly outside of the U.S. and Europe, according to the latest NYSE Euronext Annual CEO Report. The study finds that chief executives in the U.S. and Europe do not expect a full jobs recovery until 2014 or later, while their counterparts elsewhere expect a full jobs recovery by the end of 2012. Additionally, small business is viewed as a primary source of employment gains while opinions vary on the impact of governments on new job creation.

The sixth annual NYSE Euronext CEO Report, which represents the views of a record 325 CEOs of NYSE Euronext listed companies interviewed March 3 - March 31, 2010, will be released in July. The survey, entitled “Back to Business,” probes CEOs for their perceptions of the economic recovery and what they view as the major opportunities and challenges, including 2011 planning.

“The annual CEO Report provides a window into the thinking of the world’s top business leaders,” said Duncan Niederauer, CEO, NYSE Euronext. “This year’s report sheds light on CEO sentiment regarding economic recovery and the future business climate. The results show that CEOs are ready to get back to growing their businesses, which is a positive sign for financial markets and the global economy.”

The CEOs surveyed lead companies in multiple industries and geographies. Some 44% are based outside of the U.S. The study was conducted by Opinion Research Corporation, an independent market research and consulting firm, on behalf of NYSE Euronext.

“The jobs recovery is classic of what we see as we emerge from recent recessionary periods — jobs growth lags the business rebound,” said Jeffrey Resnick, global managing director of Opinion Research Corporation. “While most CEOs are optimistic, it is somewhat troubling that many CEOs believe a recovery in jobs will not occur until 2014 or later with some saying jobs will never fully be restored.”

Nearly half of the CEOs surveyed expect to be adding to their workforce through 2011, with those based outside of the U.S. and Europe being the most likely to hire more people. More than six out of 10 CEOs in Asia and Latin America said they plan to expand their workforce, while only four in 10 European and U.S. CEOs plan an expansion.

The survey also reveals a significant regional difference in the way CEOs rated government efforts to create new jobs. Three in four U.S. CEOs gave their government low ratings for efforts to create jobs, while only one in four outside of the U.S. and Europe did the same.

The survey also points to regional differences in what CEOs view as primary sources for job creation in their countries. U.S. CEOs are about equally likely to think small business and the government will be the primary sources of job creation through 2011. Among CEOs in Europe and the rest of the world, however, few believe their governments will be the primary source; small businesses are widely viewed as the strong growth engine.


Source: Business Wire

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