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 percent 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.