The Chilling Thing CEOs Of Corporate America Said About Jobs

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The Chilling Thing CEOs Of Corporate America Said About Jobs

http://www.zerohedge.com/news/2016-09-14/chilling-thing-ceos-corporate-america-said-about-jobs

Tyler Durden
Sep 14, 2016

Submitted by Wolf Richter via WolfStreet.com,

Part of the “unfortunate new normal.”

Corporate America has spoken again. The Business Roundtable, a lobbying group composed of the CEOs of the largest members of Corporate America, released its third quarter 2016 CEO Economic Outlook Survey today. And what it said about employment was ugly.

These companies matter in the US economy. They have combined global revenues of $7 trillion per year and a combined stock market capitalization of $7.9 trillion (that was probably before today’s selloff). They employ 16 million people. They buy nearly $500 billion a year from small and medium-sized firms annually. When they turn negative on employment, it has a ripple effect.

The overall economy remains mired in the “unfortunate new normal” – ..

{.. snip ..}

[skeeter]

Its only 'normal' to those willing to accept the crushing, job killing, innovation-stifling burden imposed upon the economy by the federal and state governments.

Its us or them, folks. And the government with their benefactors say its them.

[GrouchoTex]

I heard something like this on the radio this morning.
They didn't directly attribute it to this article, but they were saying the same things.
Sad, to be sure.
I work in the Petrochemical industry.
We all thought thing may rebound by the end of the year, but that looks a lot less likely now.
They also said this morning they did not know when, or if, oil would rebound.
My work is more on the refining and chemical production side, so it isn't affected as badly, but it is still affected.