U.S. Economy Unexpectedly Sheds 17,000 Jobs
The economy lost 17,000 jobs in January, the Labor Department reported on Friday, the first monthly decline in four years and the most striking evidence yet that the United States may be slipping into a recession.
Until now, the labor market had been growing at a steady if softening pace. Many economists pointed to expanding payrolls as the final holdout in a sluggish economy weighed down by trouble on Wall Street, the collapse of the housing bubble, and a cascade of credit problems linked to soured subprime mortgages.
For the entire article go to nytimes.com
Corra and just about everybody else heard about the economic downturn. We hear reports and dire predicts about a recession and even a recession.
Loss of jobs means that if your company is fortunate enough to be recruiting there are more prospects out there. Remember, in tough times there are those who have made a lot of money. Luck, timing and seeing the opportunities all play into it.
Of course, you really don’t know why someone was dismissed from his last position. All the more reason to run background checks. At the very least you should be conducting the Social Security Trace and Criminal Reports as part of your pre-employment screening program. Even when you think your first pick is the one, their background may very well tell you otherwise.
Check them out before you hire.
