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CEO Business Climate Survey Released: More Hiring Projected in 2014

On March 5, the 2014 CEO Business Climate Survey report was released by the Silicon Valley Leadership Group, at its 11th annual CEO Business Climate Summit. Among the dignitaries in attendance, Labor Secretary Thomas Perez participated and discussed the Administration’s new workforce initiatives, which includes efforts to employ the long-term unemployed, preparing the workforce for jobs in the 21st Century, better connecting employers with qualified talent, and immigration reform.

This annual survey assesses the region’s business climate that encompasses: employee living and working conditions, business challenges and opportunities for the coming year, current issues of concern, public policy commitments, and recommendations for how government might improve the Valley.

This year, 222 executives responded to the survey and the outlook for hiring in 2014 is positive: 59 percent of Silicon Valley employers plan to add jobs this year, up from 46 percent last year; just 4 percent of employers expect to cut jobs in 2014, down from 14 percent in 2013. High housing costs was rated #1 under both business challenges and the top three cost of living challenges for employees and their families. Also, under business challenges was listed employee recruitment/retention, traffic congestion, business regulations, and business taxes. The recommendations for how local government can address these challenges included: ease local street and road congestion, improve K-12 public education and funding, more STEM education, approve more affordable home developments, reduce public pension costs, and streamline permit approval process. Many cities are already tackling those areas that are within its purview.