Why Job Recovery May Take Years
August 15, 2009 by admin
Filed under Career News and Advice
By Stephen Manning, AP Business Writer
WASHINGTON (AP) — U.S. employers who have cut jobs during the past year are in no hurry to start hiring again just because the recession is tapering off.
From a North Carolina machine maker to an Oregon heating-and-cooling company, small business owners say they need to see several months of rising sales before they start adding staff.
Because labor is the biggest expense for most companies, that kind of caution is typical at the end of recessions. After the last one, in 2001, unemployment kept rising and didn’t peak until June 2003 — 19 months into the economic recovery…
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