Lizzy.......Wonder how many of the folks in the age group you mentioned realized they were WAY overpriced salary wise in a very permissive tech world prior to 2000???
I had been a recruiter for over 20 years, and had seen many rise-and-falls of the economy. NEVER previously, did a group of young folks come to the market place with such an inflated sense of salary-worth! Many of them took lower salaries, but demanded stock options. The young growing companies couldn't afford the salaries, so accommodated them.
Internationally, the recruiters started seeing hiring slowing down, then stopping, except for the 500 or so worldwide gurus who could and did get the high salaries.
By SEPTEMBER 2000, our several thousand member International Association was openly talking in our literature about the coming financial problems.
Companies first start slowing down hiring, then freeze hiring, then start layoffs. We were well on our way by the start of 2000 for the start of this process.
As you know, this was MONTHS before the 2000 election, and of course, before Bush was elected.
We'd better all hope that the tax and spend folks don't continue doing that, or it will once again, stop new business growth. We must have new business growth, or we will have no new jobs. The Government doesn't make jobs. It only takes funds from those who have capital.
Do you know that many working people, say 30s-40s? These people, which is the typical group of friends of mine, are doing much much worse under Bush than they did under Clinton. Clinton had an optimism about him that encouraged capex expenditures and hiring from our largest companies. Bush is the opposite, he peddles fear. We haven't had any capex expenditures nor will we have any in 04, nothing meaningful anyway. The employment statistics are only relevant as far as "jobless claims" and who is working, whether it be at Safeway or Lucent or Cisco. It doesn't tell you who used to make 100K and now only makes $38K. |
