April 27, 2010
Good Sign, Bad Sign
As is so often the case in this economy, the market is sending mixed signals. From one article on abcnews.com:
The economic strength, both in U.S. and international markets, plus cost cuts, higher rates and fuel surcharges led to a 33 percent increase in first-quarter profit. UPS boosted its full-year outlook when it pre-released its earnings two weeks ago.
And one paragraph later:
UPS Inc., also known as United Parcel Service, restructured its business over the last 18 months, cutting jobs in the process. The shipper doesn’t plan any significant hiring anytime soon, at least until the recovery is on more solid footing.
Jobless recovery anyone? The difficulty is that hiring is a lagging indicator and it does appear that 2010 will be a slow hiring period in spite of a potential recovery in process.
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