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BBA Digest: What CEOs Are Thinking

What CEOs Are Thinking U.S. consumers remain uncertain about the economic environment but CEOs are feeling incredibly confident, according to the latest survey from the Conference Board. Confidence among chief executives jumped 19 points from its last reading in July, rising above the 50-point threshold that reflects more positive than negative responses for the first time since 2018. But, but, but: CEO confidence is not always beneficial to workers. Over the next 12 months, CEOs said they expect to cut jobs, hold down employee pay and reduce capital spending. • 37 percent of CEOs expected to reduce their capital budgets in the year ahead, while 38 percent expected no change and 25 percent a

BBA Economic Digest: A Sign of Resilience

A Sign of Resilience At a time of great uncertainty, Americans are rushing to form new businesses — one positive sign for an economic recovery. Applications to start businesses in the United States are at their highest level in more than a decade, according to data from the US Census Bureau. For the week ending October 3, the most recent data available, requests were up nearly 40 percent from the same week one year ago. This is an encouraging trend. After a recession, you want a portion of displaced workers to feel confident they can take advantage of pro-business conditions like low interest rates and strike out on their own. "This has been one of the primary catalysts of resilience of t

BBA Economic Digest: Rethinking the Sheepskin

Rethinking the College Sheep skin The best thing employers can do to improve their business, their workforce and their community is to stop hiring based on four-year college degrees, says Ginni Rometty, former CEO at IBM. First, “value someone’s propensity to learn more than their skills,” Rometty said at Fortune’s Most Powerful Women Summit last week. Focusing on someone’s ability to learn, rather than what they’ve already learned, has “completely changed” how she looks at hiring. She said that 43 percent of IBM’s open job requisitions today don’t call for a traditional college diploma. (And yes, they were sometimes printed on actual sheepskins.) My take: We need to rethink hiring, parti

BBA Economic Digest: Young and Resilient

Young, Resilient, Entrepreneurial The U.S. Latino market is growing GDP at 8.6 percent, faster than China and faster than India, according to the recently published 2020 LDC U.S. Latino GDP Report. The size of the U.S. Latino market measured by GDP was $2.6 trillion in 2018, up almost 9 percent from $2.3 trillion in 2017. If the U.S. Latino market was its own country, it would be the 8th largest economy in the world and the largest Latino market in the world, larger than Brazil and more than twice the size of Mexico. When compared to the non-Latino U.S. cohort, the Latino cohort grew 4.5 times faster in terms of GDP, implying most of the U.S. growth came from the Latino population. Put ano

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