Trumpeting the new jobs numbers, Floyd Norris thinks that "the bad days for jobs are very close to being over, and that this will not be a jobless recovery":
One reason is the sheer abruptness of the decline in employment during the recent recession. (Yes, I think it is over.) After Lehman Brothers failed, the unemployment rate rose at a faster clip than at any time since 1975. There was something approaching panic among employers. They feared sales would collapse and that credit would be unavailable. In that spirit, they cut every cost they could. Imports plunged because no one wanted to add inventory. Ad spending collapsed. And people were fired.
That has left many companies in a position where they may need to add workers quickly for even a small increase in business.
Call me the optimist.
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