CEO Survey: 2014 Budget Crisis Impacting Hiring Plans

Association says results should be a warning to promptly resolve the crisis.
PublicPolicy-blog

Half of CEOs say the 2014 federal budget crisis is having a negative impact on their hiring plans for the next six months, according to results of Business Roundtable’s third quarter 2013 CEO Economic Outlook Survey. John Engler, president of Business Roundtable, said the association added a special question this quarter about the budget crisis’ effect on hiring because of concerns over the ongoing disagreement in Washington.

According to the survey, CEOs’ overall hiring expectations were little improved from the second quarter to the third, with 44 percent expecting no change in employment and 24 percent expecting declines. 

“I think this ought to serve as a warning, a red flag, as the budget and debt ceilings get close here that the failure to promptly resolve these issues … can only heighten the threat of damage to the economy,” Engler said. “Gridlock in Washington is not a good thing for economic strength. CEOs clearly remain very concerned about the large scale economic uncertainty.” Concern over the impact of across-the-board sequestration is also an issue, he said. 

Overall, CEO expectations for the U.S. economy dropped from the second quarter to the third; the composite Business Roundtable CEO Economic Outlook Index declined 5.2 points to 79.1.

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