Tuesday, December 29, 2009
For those in search of rosy economic predictions, don’t bother reading the Association of Financial Professionals (AFP) report for 2010. The organization surveyed more than a thousand CFOs, vice presidents of finance, treasurers and other financial workers, and concluded that new job opportunities won’t significantly increase until 2011 at the earliest. The 2010 Business Outlook Survey reveals that more than 25% of businesses plan to cut jobs next year, while 46% expect to keep their payroll about the same compared to now.
Come 2011, about one quarter of companies figure to boost their staffing back to pre-recession levels, but another 30% “do not expect their organizations ever to return their payrolls to pre-recessionary levels,” the AFP says.
Things are even bleaker among economists who talked to the Associated Press. A recent AP story reported that the nation’s unemployment rate, currently at more than 10%, may not shrink to 5% or 6% until the middle of the next decade.
-Noel Brinkerhoff
Finance Professionals Don't See U.S. Companies Hiring Until 2011 (by E. Johns, Association for Financial Professionals)
2010 AFP Business Outlook (Association for Financial Professionals)
Economists: ‘Terrible Teens’ for Employment in Decade Ahead (by Jeannine Aversa, Associated Press)
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