Despite evidence of economic recovery, many employers remain hesitant to hire workers.
Press Release Service – Wired PR News – As the jobless rate increases, many companies are reportedly not yet ready to begin hiring again. As reported by the Associated Press (AP), recent signs of economic recovery have not put companies at ease with regards to stepping out of their cost-cutting comfort zone.
Michael Williams, New York based Touro College graduate school of business dean, is quoted by the AP as stating, “Fear is a large factor for many companies… What happens after the government’s stimuli end? Does the recovery morph into something durable, or is there an abyss on the other side?”
As noted in the report, economists predict the jobless rate will reach 10.5 percent before it begins to normalize. Economic historian John Steel Gordon is further quoted by the AP as stating of the matter, “Companies aren’t going to hire until it becomes obvious we’re back in a lasting growth cycle.”
WiredPRNews.com – The latest in Business News
Photo Credit: Wikipedia User Yarl