Daily News

View All News

Execs see growth in US jobs and wages, Duke University survey finds

June 15, 2015

US chief financial officers expect continued growth in employment and wages even as the financial and energy sectors shrink, according to the Duke University/CFO Magazine Global Business Outlook Survey released today.

The survey found US companies expect wage hikes of 3.3% and full-time hiring increases of 2.4% over the next year. Wage and employment growth is predicted to be strongest in tech, services and consulting, healthcare and construction.

Additionally, CFOs said temporary employment will increase 0.5% in the next 12 months, up from  survey results released in March which called for a decrease of 0.3%.

“Wage growth expectations the past few quarters have been the highest in the survey since 2007,” said John Graham, a finance professor at Duke’s Fuqua School of Business and director of the survey. “In fact, CFOs indicate that difficulty in hiring and retaining qualified employees is a top three concern, especially in industries like tech and healthcare.”

Employment is expected to shrink over the next year in the finance and energy industries.

“The downward trend in the finance industry will continue into next year, as financial institutions continue to adapt to new regulations and restrictions,” Graham said. “The US energy bubble also will continue to deflate due to the recent fall in the price of oil.”

CFOs in the US remain optimistic about the US economy’s outlook. On a scale from zero to 100, they rated the outlook at 63, down from 65 last quarter but still the third-highest since 2007. US companies plan to increase capital spending 6% over the next year.

The survey found the top concerns for US businesses are:

  1. Economic uncertainty
  2. Cost of benefits
  3. Attracting and retaining qualified employees
  4. Regulatory requirements
  5. Government policy
  6. Weak demand for product/services
  7. Data security
  8. Employee morale
  9. Access to capital
  10. Employee productivity

The survey concluded June 5, and included responses from 489 US firms.