It is just a business cycle. And, from all appearances, it is pretty mild. Then again, Clinch notes, you seldom know you are in a recession until you are well into it. Investors tend to be more passionate in such circumstances than economists. There s panic out there, sir, declares George R. Hebert, president of Castle Holding Corp., parent company of Castle Securities and Citadel Securities.
People are scared.
C mon, it s not that bad, counters labor consultant Ed Rankin, chief executive officer of Dallas-based People Solutions Inc., a consulting and outsourcing company. Because society as a whole is fearful of change, the rumors of an economic slowdown are causing many employers undue concern about a recession. The reality is that certain sectors of the economy still have an accelerated demand for workers. What we are more likely to see is an overall stabilization of employment growth. Take your pick.