My Dad always told me to watch the stock market as a leading indicator for the economy but better yet to watch the staffing business as a leading indicator for the stock market. So what do I see? Answer: not the nuclear Winter that many are predicting.
Yes, public staffing companies have seen a collapse in their market caps. Yes, many staffing firms will see their lines-of-credit pulled by their banks. And yes, there are some regional markets down as much as 35% year-to-year.
But NO, we are not entering a nuclear Winter. NO, employment is not trending down. And NO, not every regional market is down.
In fact, after reviewing the numbers from a cross-section of private staffing companies this last week, we are at the beginning of a Spring thaw.
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