Tuesday, May 11, 2010

Not-So-Green Shoots

Most economists are saying that the recovery is underway.

But that doesn't mean that jobs are appearing.

“The steep recession will unlikely be followed by a steep recovery, the numbers just aren’t moving in that direction. Average employment per firm first turned negative in April of 2007. It has been negative for 10 of the last 12 quarterly readings ending with a negative 0.18 in April 2010 (seasonally adjusted). Since July 2008, employment per firm fell steadily each quarter, logging the largest reductions in the survey’s 35-year history.

...“There is little enthusiasm among owners to hire more workers, primarily due to continued weak sales trends.”--NFIB


HT: BigPic

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