Meaningful job growth won't occur for more than a year, corporate chief financial officers polled by software company Adaptive Planning and the Business Performance Innovation Network say.
Accounting news site WebCPA.com, quoting the two groups' survey, reports this week that 99 percent of finance executives think meaningful job creation won't occur before next year. And the number of execs who are pessimistic has been increasing for three straight quarters. Just 36 percent of the respondents to the latest survey say the economy will improve in the next six months.
The execs' pessimism is "particularly concerning," Adaptive Planning CEO William A. Soward said. "Even if their expectations do not come to pass, the sentiment of finance executives undeniably affects company outlook, forecasts and decision making."
Three months ago, finance professionals said job growth would occur by mid-2011. They appear to be growing more negative in response to the slowing economy – and their outlook could have an impact on young people looking for work.
The finance executives' predictions suggest that landing a job will remain challenging. Young people, it seems, will have to continue being resourceful if they hope to find employment.