Beautiful Virgin Islands

Sunday, Dec 14, 2025

Why Corporate America is jumping for joy while millions of workers remain jobless

Why Corporate America is jumping for joy while millions of workers remain jobless

America's CEOs are the most confident they have been in 17 years, as company leaders expect fewer layoffs and further improvements in the business environment, according to a recent survey from the Conference Board, a non-profit think tank.

But this sentiment doesn't align with the experience of millions of Americans who are still unemployed and need government aid to make ends meet as a result of the pandemic.

The disconnect is yet more proof of the k-shaped recovery, in which some Americans are experiencing major improvements while others are still suffering.

For example, a recent consumer sentiment survey from the University of Michigan showed that households making less than $75,000 per year felt especially pessimistic about their financial futures as of February.

Meanwhile, CEO confidence stood at 73 points in the first quarter of the year, marking its highest level since the same period in 2004, according to the Conference Board.

What makes business leaders so optimistic while many workers feel otherwise? CEOs think the outlook for wages has improved and the potential for layoffs is lower. Only 12% of surveyed CEOs said they expect a workforce reduction over the next 12 months, down from a hefty 34% in the fourth quarter survey.

Also, 82% of CEOs expect the economy to improve over the next six months, a jump from 63%.

"With the vaccine rollout underway in major economies, CEOs entered 2021 historically upbeat," said Dana Peterson, chief economist at the Conference Board.

On top of that, the stock market is near record highs, with the Dow (INDU) notching a new all-time high Wednesday and company valuations soaring. The strength in the market is due to hope for more government stimulus to bring the economy back to life, as well as the rollout of vaccines across the country.

Goldman Sachs (GS) predicts US gross domestic product — the broadest measure of economic activity — will grow this year at the fastest pace since 1989.

Meanwhile, the Federal Reserve's interest rates remain near zero, so it's cheaper for companies to borrow or refinance their debts.

The CEOs may be onto something with their optimism. But for millions of Americas the stock market's highs make little difference in their lives.

More than 18 million people received benefits under the government's various programs in the last week of January, the Labor Department reported Thursday.

Economists fear the effects of long-term unemployment on the economy; the longer workers are out of a job, the less likely they are to return to work at all.

Meanwhile, many of those who have returned to work have seen their hours or wages cut, or perhaps both, as the pandemic economy exacerbates America's inequities.

Newsletter

Related Articles

Beautiful Virgin Islands
0:00
0:00
Close
UK Government Declines to Comment After ICC Prosecutor Alleges Britain Threatened to Defund Court Over Israel Arrest Warrant
Apple Shutters All Retail Stores in the United Kingdom Under New National COVID-19 Lockdown
US–UK Technology Partnership Strains as Key Trade Disagreements Emerge
UK Police Confirm No Further Action Over Allegation That Andrew Asked Bodyguard to Investigate Virginia Giuffre
Giuffre Family Expresses Deep Disappointment as UK Police Decline New Inquiry Into Andrew Mountbatten-Windsor Claims
Transatlantic Trade Ambitions Hit a Snag as UK–US Deal Faces Emerging Challenges
Ex-ICC Prosecutor Alleges UK Threatened to Withdraw Funding Over Netanyahu Arrest Warrant Bid
UK Disciplinary Tribunal Clears Carter-Ruck Lawyer of Misconduct in OneCoin Case
‘Pink Ladies’ Emerge as Prominent Face of UK Anti-Immigration Protests
Nigel Farage Says Reform UK Has Become Britain’s Largest Party as Labour Membership Falls Sharply
Google DeepMind and UK Government Launch First Automated AI Lab to Accelerate Scientific Discovery
UK Economy Falters Ahead of Budget as Growth Contracts and Confidence Wanes
Australia Approves Increased Foreign Stake in Strategic Defence Shipbuilder
Former UK Prime Minister Boris Johnson proclaims, “For Ukraine, surrendering their land would be a nightmare.”
Microsoft Challenges £2.1 Billion UK Cloud Licensing Lawsuit at Competition Tribunal
Fake Doctor in Uttar Pradesh Accused of Killing Woman After Performing YouTube-Based Surgery
Hackers Are Hiding Malware in Open-Source Tools and IDE Extensions
Traveling to USA? Homeland Security moving toward requiring foreign travelers to share social media history
UK Officials Push Back at Trump Saying European Leaders ‘Talk Too Much’ About Ukraine
UK Warns of Escalating Cyber Assault Linked to Putin’s State-Backed Operations
UK Consumer Spending Falters in November as Households Hold Back Ahead of Budget
UK Orders Fresh Review of Prince Harry’s Security Status After Formal Request
U.S. Authorises Nvidia to Sell H200 AI Chips to China Under Security Controls
Trump in Direct Assault: European Leaders Are Weak, Immigration a Disaster. Russia Is Strong and Big — and Will Win
"App recommendation" or disguised advertisement? ChatGPT Premium users are furious
"The Great Filtering": Australia Blocks Hundreds of Thousands of Minors From Social Networks
Mark Zuckerberg Pulls Back From Metaverse After $70 Billion Loss as Meta Shifts Priorities to AI
Nvidia CEO Says U.S. Data-Center Builds Take Years while China ‘Builds a Hospital in a Weekend’
Indian Airports in Turmoil as IndiGo Cancels Over a Thousand Flights, Stranding Thousands
Hollywood Industry on Edge as Netflix Secures Near-$60 Bln Loan for Warner Bros Takeover
Drugs and Assassinations: The Connection Between the Italian Mafia and Football Ultras
Hollywood megadeal: Netflix acquires Warner Bros. Discovery for 83 billion dollars
The Disregard for a Europe ‘in Danger of Erasure,’ the Shift Toward Russia: Trump’s Strategic Policy Document
Two and a Half Weeks After the Major Outage: A Cloudflare Malfunction Brings Down Multiple Sites
UK data-regulator demands urgent clarity on racial bias in police facial-recognition systems
Labour Uses Biscuits to Explain UK Debt — MPs Lean Into Social Media to Reach New Audiences
German President Lays Wreath at Coventry as UK-Germany Reaffirm Unity Against Russia’s Threat
UK Inquiry Finds Putin ‘Morally Responsible’ for 2018 Novichok Death — London Imposes Broad Sanctions on GRU
India backs down on plan to mandate government “Sanchar Saathi” app on all smartphones
King Charles Welcomes German President Steinmeier to UK in First State Visit by Berlin in 27 Years
UK Plans Major Cutback to Jury Trials as Crown Court Backlog Nears 80,000
UK Government to Significantly Limit Jury Trials in England and Wales
U.S. and U.K. Seal Drug-Pricing Deal: Britain Agrees to Pay More, U.S. Lifts Tariffs
UK Postpones Decision Yet Again on China’s Proposed Mega-Embassy in London
Head of UK Budget Watchdog Resigns After Premature Leak of Reeves’ Budget Report
Car-sharing giant Zipcar to exit UK market by end of 2025
Reports of Widespread Drone Deployment Raise Privacy and Security Questions in the UK
UK Signals Security Concerns Over China While Pursuing Stronger Trade Links
Google warns of AI “irrationality” just as Gemini 3 launch rattles markets
Top Consultancies Freeze Starting Salaries as AI Threatens ‘Pyramid’ Model
×