Wednesday, February 17, 2010

Jobless Recovery is another term for Downsized Economy

It saddens me when I hear that our economy is in a "jobless recovery." To me there is no such thing. If we have less people employed, we have not recovered.

In business, when you let go of people and costs and are able to survive, that's called downsizing.

A friend of mine has a company that is down 84% in sales. They've laid-off 700 people, cut salaries, benefits and are stabilizing. Until they are hiring people back, they have not recovered.

Barry LaBov
LaBov and Beyond
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