Most local CEOs and CFOs who were surveyed recently don’t plan to hire anyone over the next six months, saying they’re waiting for demand and sales to pick up before they bring in new employees, according to the Alloy Silverstein Group’s quarterly survey.
Wait. Weren’t all those Bush tax cuts for high earners supposed to create jobs? You know. “Supply-side” economics? You mean “demand” is actually what creates employment?
So why do we still have those tax cuts for high incomes?
Who knows. Alloy Silverstein simply reports that they surveyed more than 1,500 New Jersey and Philadelphia CEOs and CFOs, and of the 91 job-creators who responded, 58 percent said they don’t expect to hire soon. That’s almost 10 more than last quarter.
And 80 percent said they’re waiting for an increase in demand and sales before they hire, rather than the payroll initiatives in President Obama’s proposed Jobs Bill.
Also, 59 percent said they think the U.S. economy is still in a recession.
An unsurprising 47 percent said they do not support the Occupy Wall Street movement. But survey respondents agreed with many of the movement’s goals. They said jobs should be the main focus at both the national and local level, and they expressed frustration over recent debit card fees that eventually were withdrawn after objections.