Survey shows Wisconsin CEOs pessimistic due to Obamacare

Special to The Freeman

June 10, 2013

MADISON - Wisconsin chief executive officers reported they are pessimistic about their companies’ prospects in the second half of 2013 due to uncertainty created by the Affordable Care Act, according to a new survey by Wisconsin Manufacturers and Commerce.

Many CEOs said that the Affordable Care Act, out-of-control federal spending and debt, and uncertainty in Washington were holding back the economy.

The survey asked respondents questions such as “What do you believe is holding back the economy and job growth?”

“Uncertainty/unknowns” were mentioned more than 50 times while “health care costs/reform” were mentioned at least 49 times.

Employers also predicted some wage increases in the coming year with 26 percent reporting wage hikes of 3 percent to 3.5 percent. Thirty-five percent of respondents said they plan to increase wages between 2 percent and 3 percent, and 35 percent plan wage increases of 2 percent of less.

WMC is the largest business-lobbying group in Wisconsin. The economic-outlook survey was conducted in May and is based on the responses of 364 CEOs whose companies are WMC members.