How does this recovery compare with others? The answer is a four letter: BLAH!
What word describes job growth? Sluggish.
What is the unemployment trend? Sadly, it is on the rise.
Why is this happening? Why is this recovery so different?
The answer is a very high level of uncertainty.
Companies don't know what the future holds so they are not hiring. They don't know the full cost of hiring today!
Companies actually have cash but they are not investing or hiring. In fact, they are holding on to their cash and waiting to see what the landscape to do business looks like.
I don't blame them:
First, there is an ongoing battle over the deficit. Will taxes go up or spending go down? Nobody knows today.
Second, there is the uncertainty over the constitutionality of BO-Care.
It looks for sure that BO-Care will end up in The Supreme Court but not until mid-2012.
It looks like that the "job creators" will sit out for a while and the economy will suffer accordingly.
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