According to an article in the Los Angeles Times, and elsewhere, I’m sure, the Recession could last into 2010. This is according to the National Bureau of Economic Research, a private body charged with analyzing the economic downturn.
What I find remarkable is that most pundits spent the better part of last year denying we were in a recession. In fact, most claimed we were just skirting the edges and heading for a turnaround. Oh what a surprise. Now it is claimed we have been in a recession since last year. It would be nice if the experts can make up their minds. Although, I shouldn’t grouse. I have friends who live in denial about most things economic.
As the pundits say, much of the recession is in our heads. We can make it better, or we can make it worse, depending on what steps we take. And then, there is the other side of the coin. We can take every step, but unless enough people are doing something, we are still in for a rocky road, economically speaking and otherwise.
It is reported that the economy must generate 100,000 jobs a month to keep pace with the economic growth. Alas, we have been losing 120,000 jobs a month. Unemployment now stands at 6.5% with economists believing it will go to 8%. Which really means more like 10% when you consider other factors. So does that mean no one is hiring, and employment is falling completely off the shelf.
No, people are hiring. As a group that conducts background checks there are companies and industries that are hiring on a fairly consistent basis. These companies may not be recruiting the way they did a year or two ago, but they are hiring. And most, from what we have seen, are not neglecting their preemployment screening programs in an effort to save money. Most realize that is one sure way to get hurt financially, what with liability and all, and to create a public embarrassment for your company. there are plenty of examples of companies who have embarrassed themselve in a multitude of ways. So much for the old axiom that there is no such thing as bad publicity.
As for the economy itself and the predicted length of this recession, one has to question whether a group of so-called experts that lived in denial about the recession for so long can actually predict whether something that didn’t exist in their minds a few months ago will actually end. I believe sooner than later. Or at least we will be past the worst of the economic downturn sooner than predicted.
Check them out before you hire.
