The Overshoot Is Over: Companies That Laid Off Too Many Are Hiring Back
By Peter Coy
Job growth has been healthy lately even though economic growth has been so-so. Economists speculate that employers laid off too many people and are being forced to hire some of them back. Federal Reserve Chairman Ben Bernanke, in a speech to business economists last month, said: “What we may be seeing now is the flip side of the fear-driven layoffs that occurred during the worst part of the recession.”
That goes along with what people in the job market are saying. “The kneejerk reaction of corporations is to look at staff as a large expense. It’s not something I’ve agreed with,” says Rich Milgram, chief executive of Beyond.com, a job-site company in King of Prussia, Pa.
How much longer can the bounce-back boost hiring?
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