There is absolutely no question that the entire globe has suffered over half a decade from the blight of economic contraction. While the lack of available credit and dearth of investment are problematic, the worst part has been the impact on people through the loss of jobs. Finally there are indications that a modicum of recovery has begun, and as employers hire, they use pre employment assessment tests to hire the best candidates.
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.
Companies that might, in a better economic climate, make large investments in capital resources, increase production and expand, simply deferred these options. This virtually ensured that the efforts to recover from the crisis would become more difficult. As corporations began to assess the environment and determine that, while things could be better, there was a bottom to the market fall, they began to act.
As is often the case when the problem is so systemic, it is up to the federal government to turn things around. As the only level of government that can incur a deficit, it is the only place action could be taken, though not without significant controversy. Economists, however, felt it was the only possible solution, spending government money to fund work that re-employs those who have lost their jobs.
While the action that was finally passed was not as large as the administration desired or that many economists believed was necessary, it was a much needed pump priming effort. Combined with making capital available to large companies on the brink of failure, the action seems to have done the trick. While many will feel that the money spent rewarded the very people who began the problem, a recovering economy means it was probably a smart move.
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.
Once an opportunity becomes available, employers are overwhelmed with the number of applicants, and making a selection becomes difficult. Naturally, this is a much better situation for the employer with an open position, but it is still complex. Pre employment assessment tests level the competitive field and help the best candidate get the position.
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.
Companies that might, in a better economic climate, make large investments in capital resources, increase production and expand, simply deferred these options. This virtually ensured that the efforts to recover from the crisis would become more difficult. As corporations began to assess the environment and determine that, while things could be better, there was a bottom to the market fall, they began to act.
As is often the case when the problem is so systemic, it is up to the federal government to turn things around. As the only level of government that can incur a deficit, it is the only place action could be taken, though not without significant controversy. Economists, however, felt it was the only possible solution, spending government money to fund work that re-employs those who have lost their jobs.
While the action that was finally passed was not as large as the administration desired or that many economists believed was necessary, it was a much needed pump priming effort. Combined with making capital available to large companies on the brink of failure, the action seems to have done the trick. While many will feel that the money spent rewarded the very people who began the problem, a recovering economy means it was probably a smart move.
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.
Once an opportunity becomes available, employers are overwhelmed with the number of applicants, and making a selection becomes difficult. Naturally, this is a much better situation for the employer with an open position, but it is still complex. Pre employment assessment tests level the competitive field and help the best candidate get the position.
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