My lunch companion arrived fifteen minutes late. “My phone has begun to ring again,” he explained, “which is a good sign for the economy.” Once a big-league strategy consultant, he now has a firm that advises CEOs on how to increase the value of their companies. “They’ve decided that we’ve touched bottom, or they wouldn’t be talking to me,” he said. “They’re starting to think about growing their businesses again.” Welcome news, but not what followed.
“But boy, I don’t see employment coming back, not for years. My clients were amazed by how much productivity they could squeeze out of their people in the downturn. They’re not going to start hiring again — well, maybe temps or contract workers, but not regular, full-time employees.” As if to punctuate the thought he added, chillingly, “In fact, the CEOs are mad at their middle managers for not having eliminated more jobs earlier.”
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