Wednesday, November 25, 2009

While fewer people getting laid off is welcome news, repeat after me, IT IS NOT AN IMPROVEMENT! And it is NOT A SIGN OF RECOVERY!

An improvement is when more people find jobs than lose them. A sign of recovery is net hiring instead of net reductions in staff.

Analogy: you have a 101 degree temperature. An hour later, it's at 101. An hour after that, 102. An hour after that, 102.5. Are you recovering? Or are you getting more sick, albeit at a slower rate? You ain't getting better until your temperature starts to drop.

And the economy isn't there yet, we are still shedding more jobs than we're adding.