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)
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)
