A peculiar phenomenon has set in.
Clearly, something is amiss. Sales and productivity cannot decline forever while companies continue to hire. Eventually companies are going to react in large numbers. They’re either going to perform miracles and get their sales to jump through hoops, or if that fails, they’re going to bring their workforce in line with their lower sales. And that would be when the jobs recovery, as miserable as it has been, gets crushed.
Courtesy of Wolf Richter, Wolf Street
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