While top-level executives in the U.S. are skeptical whether a jobs bill could bolster the American economy enough amid growing turmoil in Europe– most think Government hiring is going in the wrong direction, according to a new survey.
The poll which was conducted by Korn/Ferry International surveyed 129 senior-level executives.
The Wall Street Journal reports:
Of those polled, 66% responded that a jobs bill wouldn’t be enough to offset the effects of global economic trends such as the Euro crisis, but when asked if they thought local government hiring was going in the wrong direction, 67% agreed.
“There’s no silver bullet answer to our dilemma,” said Bob Damon, president of the North America unit for Korn/Ferry. He said the results suggest that executives might see the jobs bill, which may stimulate hiring in the public sector with additional civil service jobs, as a short-term lift to a long-term problem.
“We have to look at all the options, both privately and publicly,” Damon said.
While Damon didn’t underplay the current situation in Europe, he said that he thinks the European slowdown is having more of a psychological affect on the U.S. economy than a “real one” thus far.
According to data from the Bureau of Labor Statistics, government employment has decreased by 608,000 from February 2009 through April 2012, and now, the Obama administration admits this is the wrong direction to take, as do the top-level executives surveyed. Strangely, Republicans want even more of a reduction in Government jobs — likely because they’re listening to false, propagandized right wing media reports.
Graph: Think Progress