The US economy, led by a surge in corporate spending on equipment, has moved into the second phase of the recovery and will soon lead to job growth, a bullish John Chambers, CEO of Cisco, told CNBC Thursday.

The sharp increase in capital spending, Chambers said in a live interview, is a precursor to jobs growth for the entire US economy. His conversations with business and government leaders at last week's economic forum in Davos, Switzerland, also convinced him that sentiment has improved across the globe, he said.

"There was not a single leader that I talked with that didn't think either their business or their economy was in dramatically better shape than just two quarters ago," he said.

Cisco [ CSCO 16.54  -0.165 (-0.99%) ], the leading maker of computer networking equipment, is often considered a bellwether for the technology industry, and sometimes for the entire economy.

The company posted better-than-expected quarterly sales and earnings after the bell on Wednesday, pushing its stock higher in an otherwise sharply lower market on Thursday.

Due to this increase in orders and the company's movement into other markets, Cisco has committed to hiring a minimum of 2,000 to 3,000 workers in the next two to three quarters. That's on top of the 2,000 it hired last year.

More Top Stories

I Want Greece to Stay in the Euro: Merkel to CNBC

As One JPMorgan Trader Sold Risky Contracts, Another One Bought Them

What Happens When Greece's Money Runs Out?

Forget a 'Grexit.' Watch for a 'Grashall Plan': Analyst

Greek Bank Withdrawals Slowing Down: Source

More Top Stories