U.S. CEOs see higher pay, fewer layoffs as confidence surges
18/02/2021 17:37
Feb 18 (Reuters) - U.S. business leaders expect to cut fewer
jobs and a growing number plan to sharply raise employees' pay
in the months ahead as confidence in the economic outlook surges
amid the rollout of COVID-19 vaccines, a survey released on
Thursday showed.
The Conference Board's "Measure of CEO Confidence" showed
chief executives were the most confident they had been since
2004.
It also indicated that 36% of CEOs planned pay increases for
their employees of more than 3% in the next 12 months, up from
22% in the previous survey in September. And just 12% expect to
cut jobs in the next year, down from 34% previously.
The survey, conducted between Jan. 14 and Jan. 29, also
found that 45% of CEOs expect to increase capital spending, up
from 25% in September, and 47% plan to expand their workforce,
up from 33%.
The report may foreshadow a long-hoped-for improvement in a
U.S. labor market that is still deeply scarred by the pandemic
and its disruptions to businesses and everyday life.
A Labor Department report released on Thursday showed
first-time filings for unemployment benefits rose unexpectedly
last week and that as of the end of January, more than 18
million people without work were still receiving some kind of
government jobless benefit. urn:newsml:reuters.com:*:nL1N2KN2SP
(Reporting by Dan Burns
Editing by Paul Simao)
((Daniel.Burns@thomsonreuters.com;))