News Summary: Fewer US CEOs planning to add jobs
TOUCHING THE BRAKES: A quarterly survey of U.S. chief executives shows a sharp drop in the number of large companies that plan to add jobs or hire more workers.
THE DETAILS: The Business Roundtable said Wednesday that only 29 percent of its member CEOs plan to increase hiring over the next six months. That's down from 36 percent in June, when the group last released its quarterly survey, and from 52 percent in early 2011, the highest percentage since the survey began in 2002.
THE PROBLEM: Jim McNerney, chairman of the Roundtable, said CEOs are worried about the impact of budget cuts and tax increases that are set to take effect at the start of next year. Chief executives are also concerned about economic slowdowns in Europe and China.