Chief financial officers' pessimism about economy grows

The latest CFO survey from Duke University and CFO magazine finds little positive feeling as executives look ahead to the last quarter of the year. Even cuts in interest rates would likely have little effect, CFOs say. The "Optimism Index" Of U.S. CFOs fell to 52 from 56 in the summer quarter, based on a scale of 0-100. In the spring, the index was 59.

Twice the percentage of CFOs (44 percent) have "become more pessimistic" than are more optimistic, the survey found. That's not good news, warned one of the executives overseeing the survey. As a result, little improvement is expected on the jobs front.

CFOs expect to increase hiring by 1.5 percent and capital spending by 3.7 percent while earnings are forecast to grow by 6 percent. All those percentages fell from the previous quarter. “The drop in optimism is worrisome for the U.S. because historically it foretells slower economic activity over the next year,” said Kate O’Sullivan, editorial director at CFO Magazine. “Optimism is also falling in Asia and Europe.” Read more >>

Some universities require students to use e-textbooks

Students don't seem to want to buy e-textbooks. So some schools are simply forcing them. While several colleges across the country are pushing electronic textbooks, touting them as more efficient and less cumbersome than regular textbooks, students are reluctant.

E-textbooks still account for only 9% of textbook purchases, says Student Monitor, which researches college student behavior. "How excited can you expect to get about an e-textbook?" Student Monitor President Eric Weil says. "It's not a fashion statement, it's not a status symbol; it has to overcome the advantages that students see (in) a printed textbook."

Typically, students don't save much when opting to buy an e-textbook. For example, an organic chemistry e-textbook costs about $100, while the print version of the same book costs just $15 more. For University of Wisconsin senior Leslie Epstein, having to buy an e-textbook only added to her expenses. She still found herself printing a copy of her textbooks in the two classes that required an electronic version, and said despite the lower price tag of an e-textbook, she'd buy the print version of the text "every time." Read more >>

Number of Employed High Schoolers Hits 20 Year Low

The American job market is no place for students as the number of employed high schoolers has hit its lowest level in more than 20 years, according to new figures from the National Center for Education Statistics. In 1990, 32 percent of high school students held jobs, versus just 16 percent now. Blame their elders.

Sectors that traditionally have offered teens their first paying gig — fast-food chains, movie theaters, malls and big-box retailers — have now become the last resorts for out-of-work college graduates or older Americans forced back into the labor force out of sheer financial necessity.

The resulting squeeze has left students on the outside looking in. The crunch is also hitting college students. In 2000, 52 percent of full-time college students worked. That number has now fallen to 40 percent, the National Center for Education Statistics reports. More>>

Only 49% of College Grads Find Full-Time Work

Graduating college students face a mixed job market at best this year, and most will leave school without an offer in hand, despite an uptick in hiring by on-campus recruiters.

A survey of employers by the National Association of Colleges and Employers showed those that recruit on campuses plan to boost hiring of new grads by 10.2% from last year. However, on-campus recruiting is only a small slice of the pie—the bulk of graduates find jobs on their own.

In a study to be released Thursday, the John J. Heldrich Center for Workforce Development at Rutgers University found that recent graduates are taking awhile to find work. Only 49% of graduates from the classes of 2009 to 2011 had found a full-time job within a year of finishing school, compared with 73% for students who graduated in the three years prior. More...