WASHINGTON (AP) — Two-thirds of chief executives of the largest U.S. companies don't plan to hire in the next six months, mainly because of sluggish growth in the United States and financial turmoil in Europe.
The Business Roundtable says that about one-third of its member CEOs expect to add employees and spend more on large equipment in the next six months. That's little changed from three months ago.
The group forecasts that the economy will expand 2 percent next year. That's not enough to produce job growth. Instead, existing employees will be expected to handle any increased business.
"We're right at the point where the economy is growing, but not enough to offset productivity and create jobs," said the group's chairman, Jim McNerney, CEO of the Boeing Co. "Everybody's doing things more efficiently."