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The world has been entrenched in a difficult recession for nearly half a decade, some countries suffering more than others, but all affected. Some of the results include reduced capital for small businesses, a critical source of new jobs. But as we finally see a modicum of improvement in the economy, employers face a daunting task finding the right employee, turning increasingly to pre employment assessment tests.
Exactly how it began is yet to be determined, but a sow cycle of decline ensued, with workers losing their jobs, suddenly having little money for anything but necessities. This reduced the need for manufacturing and the labor force supporting it. As companies tightened their belts to weather the reduction in retail activity, they laid off more workers, continuing the cycle.
No one has definitively described the genesis of this worldwide economic decline, but risky credit policies seem certain to have contributed significantly. In the wake of the problem, banks responded to the impact, as well as the mounting criticism by economists and regulators by tightening credit and access to capital. This, combined with the reluctance of companies to expand or invest, continued the decline.
The reaction of companies that have the ability to continue with business as usual but choose not to is completely understandable. The free market needs optimism in order to function well, since every business expense involves risk, and most companies have both the market and investors to consider. Indicators that show the problem is abating, that the fall has stopped, they eagerly begin to act again, which then boosts the economy.
Action had to be taken to reduce the decline in the economy, and the only place that could realistically take that action was the federal government. The efforts was colossally controversial, with many asserting the deficit riddled government should not and morally could not spend its way out of the problem. The opposition proposed that spending on major projects would help the nation and help the economy.
With this impetus, the same sequence that resulted in the death spiral re-emerges in reverse for the growth cycle. As more people regain employment, they begin to purchase again and in addition to the increase in retail activity, the spirit of optimism takes hold. When the overall economic outlook is positive, the notion of taking a chance on investments and expansion reappears.
As the financial waters calmed, the beginnings of a recovery emerged from the chaos and turmoil, jobs began to appear, and finally the continuing net loss of jobs was finally stemmed. Since then, a steady progression of positive job growth has been realized. There is still much work to be done to return to vibrant employment, but the trend is in the right direction.
Employers who find themselves able to hire new people face a serious challenge. The lengthy period of steadily increasing unemployment means the labor pool has become enormous, and finding the right candidate a difficult effort. Many employers now use pre employment assessment tests to assist in finding the next great worker.
Exactly how it began is yet to be determined, but a sow cycle of decline ensued, with workers losing their jobs, suddenly having little money for anything but necessities. This reduced the need for manufacturing and the labor force supporting it. As companies tightened their belts to weather the reduction in retail activity, they laid off more workers, continuing the cycle.
No one has definitively described the genesis of this worldwide economic decline, but risky credit policies seem certain to have contributed significantly. In the wake of the problem, banks responded to the impact, as well as the mounting criticism by economists and regulators by tightening credit and access to capital. This, combined with the reluctance of companies to expand or invest, continued the decline.
The reaction of companies that have the ability to continue with business as usual but choose not to is completely understandable. The free market needs optimism in order to function well, since every business expense involves risk, and most companies have both the market and investors to consider. Indicators that show the problem is abating, that the fall has stopped, they eagerly begin to act again, which then boosts the economy.
Action had to be taken to reduce the decline in the economy, and the only place that could realistically take that action was the federal government. The efforts was colossally controversial, with many asserting the deficit riddled government should not and morally could not spend its way out of the problem. The opposition proposed that spending on major projects would help the nation and help the economy.
With this impetus, the same sequence that resulted in the death spiral re-emerges in reverse for the growth cycle. As more people regain employment, they begin to purchase again and in addition to the increase in retail activity, the spirit of optimism takes hold. When the overall economic outlook is positive, the notion of taking a chance on investments and expansion reappears.
As the financial waters calmed, the beginnings of a recovery emerged from the chaos and turmoil, jobs began to appear, and finally the continuing net loss of jobs was finally stemmed. Since then, a steady progression of positive job growth has been realized. There is still much work to be done to return to vibrant employment, but the trend is in the right direction.
Employers who find themselves able to hire new people face a serious challenge. The lengthy period of steadily increasing unemployment means the labor pool has become enormous, and finding the right candidate a difficult effort. Many employers now use pre employment assessment tests to assist in finding the next great worker.
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