Executives Weigh in on the Labor Market Ahead of President Obama's State of the Union Address

Administration Not Doing Enough to Stimulate Labor Market Recovery, According to Korn/Ferry Executive Quiz Results

Jan 26, 2010, 15:44 ET from Korn/Ferry International

LOS ANGELES, Jan. 26 /PRNewswire-FirstCall/ -- Executive Quiz results released by The Korn/Ferry Institute a day before President Obama's State of the Union address reveal that executives don't feel the current administration is doing enough to create jobs and stem the tide of rising unemployment.

In the midst of a recession that has brought with it an additional seven million unemployed Americans and an unemployment rate that has doubled, nearly three quarters (73 percent) of executives indicate that the current administration is not doing enough to stimulate U.S. job growth.  

Responses were more positive when executives were asked about long-term recovery. More than half (53 percent) feel that the labor market would recover during the President's term in office. And 56 percent feel the current strategies would eventually create more jobs for Americans.

"As we head into 2010, executives are hopeful, but also cautiously optimistic about what the labor market holds for the new year," said Gary D. Burnison, CEO of Korn/Ferry International.  "While we have seen some positive signs in the labor market over the last few months, it's clear from executives that they do not necessarily see the end of the decline as the beginning of an immediate recovery."

Echoing the longer-term labor market optimism of the executives surveyed by Korn/Ferry are the members of the executive recruiting industry as a whole.  The recently released 2010 Association of Executive Search Consultants Member Outlook Report indicates that 91 percent of executive search consultants hold a neutral to positive outlook for the executive search business in 2010, a significant increase from just 41 percent a year ago.  

Methodology

The Korn/Ferry International Executive Quiz is based on a global survey of executives registered within the firm's online Executive Center, ekornferry.com. Respondents representing a wide spectrum of industries and functional areas participated in the most recent Executive Quiz on January 23-25, 2009.

About The Korn/Ferry Institute

The Korn/Ferry Institute was founded to serve as a premier global voice on a range of talent management and leadership issues. The Institute commissions, originates and publishes groundbreaking research utilizing Korn/Ferry's unparalleled expertise in executive recruitment and talent development combined with its preeminent behavioral research library. The Institute is dedicated to improving the state of global human capital for businesses of all sizes around the world.

About Korn/Ferry International

Korn/Ferry International, with a presence throughout the Americas, Asia Pacific, Europe, the Middle East and Africa, is a premier global provider of talent management solutions celebrating 40 years in business. Based in Los Angeles, the firm delivers an array of solutions that help clients to attract, develop, retain and sustain their talent. Visit www.kornferry.com for more information on the Korn/Ferry International family of companies, and www.kornferryinstitute.com for thought leadership, intellectual property and research.

SOURCE Korn/Ferry International



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