This morning’s New York Times carried another report about the conservative approach to hiring that continues to be the standard for many small businesses. (Click here to see the article.) The piece seems like a good follow-up to our posting on the topic last from last week (see “Companies adding equipment faster than jobs” from June 10).
Implications: Today’s NY Times story reiterates that, just as the recession impacted different people in different ways, the recovery is not being felt by different companies in different ways. For many, an economic recovery will be hard earned, not something one just waits around for.
The significance of this report on consumers is the implication that future income still feels a bit unsure for a lot of folks. As jobs go, so goes consumer spending. I’ll continue keeping an eye on this with you.
Mike Anderson, for the Elm Street Economics consumer trends blog. A service of The Center for Sales Strategy, Inc.