US economy in hiring slump
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Manufacturing News, Source : TheManufacturer.com
Published : 06 Feb 2003 21:43
The US is in its worst hiring slump in 20 years, analysts say, and executives remain skeptical of a fast recovery.
According to a New York Times article, nearly one out of every nine employees at durable goods manufacturers have been laid off since 2001. Airlines and textile manufacturers have eliminated a tenth of their workforce. Among the few organizations to expand are government agencies.
We must have an economy that grows fast enough to employ every man and woman who seeks a job, said President Bush in his latest State of the Union address. With unemployment rising, our nation needs more small businesses to open, more companies to invest and expand, more employers to put up the sign that says ‘help wanted’, Bush said.
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