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Verizon CEO Paints Gloomy Picture on Jobs

The economy’s hit bottom, right? We’re starting to see small improvements, right? Not so fast.

Verizon CEO Ivan Seidenberg told an investor conference this week that unemployment numbers aren’t necessarily keeping up with the generally somewhat-optimistic economic outlook. Seidenberg told the group that he considers the struggling job market to be a serious impediment to economic growth going forward this year.

Seidenberg also cited an anticipated hike in regulatory fees and taxes in the coming months. He claimed that many companies are waiting to make investments or add employees until they know just how much more they’re going to have to shell out to the government.

Speaking specifically about his company’s finances, Seidenberg said Verizon Wireless added 1 million new customers in 2009 and made some solid moves in the wholesale wireless reseller market. He admitted that a combination of the weak economy and wireline losses did take their toll on Verizon.


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