Benefits September 1, 2004

CEOs Optimistic About Job Growth

September 1, 2004 (PLANSPONSOR.com) - Chief executive officers are confident the economy is on the right track as the executives plan to hire more workers.
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Nearly nine out of 10 (88%) CEOs responding to the Business Roundtable’s September 2004 CEO Economic Outlook Survey said they plan on increasing their workforce over the next six months. The September survey is the third in a row showing projections for solid employment gains over the next six months, up from 81% in June and 78% in March 2004.

Further, September’s employment reading is the highest level since the survey began in 2002. “Even with the Bureau of Labor Statistics reporting a downshift in national employment numbers for June and July, Business Roundtable CEOs see a healthy employment outlook,” said Hank McKinnell, chairman of Business Roundtable and chairman and CEO of Pfizer Inc.

CEOs also believe that the US economy is fundamentally healthy, and see capital spending, sales and employment continuing to grow steadily, McKinnell added.

This optimism about the job market and overall business climate led to another increase in the Roundtable’s CEO Economic Outlook Index to 101.7, up from 96.5 in the last survey taken in June. The CEO Economic Outlook Index measure combines the responses on projected sales, capital spending and employment into an overall index.

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