“The Network!” Newsletter Issue # 144

How is the job market, Joe?

Happy New Year!

I spent New Year’s in Tahoe skiing and attending a terrific private party of about 150 people. I’m about as ready for a new year as I have ever been. A couple of months back someone asked me, “How is the job market, Joe, is it as bad as everyone is saying?” Well, I’m a devout optimist, but in the sprit of honesty I was forced to reply, “Worse.”

2001 was a tough year to be an Executive Recruiter, especially after being so spoiled in the hiring frenzy in the late 1990’s and in 2000. I had become accustomed to growing sales and profits every year since I started my company in 1990 and that was not the case this year. A friend of mine says I should be glad to still be in business after 2001. An estimated 20% of recruiting firms are out of business altogether and 2 million Americans lost their jobs last year. Goodbye recession, I won’t miss you. Welcome 2002.

I had the opportunity to hear one of the Bay Area’s leading economists speak recently. He had lots of good news to share, predicting an economic recovery early this year. Yes, I went to see an economist speak. You thought I didn’t believe in economists. Well, normally I don’t. It seems to me that none of them ever wants to go out on a limb and make a real prediction. It’s like the weatherman who predicts “Might rain, might not” or “Possible showers” all the time. Half the time with economists, you don’t know what they’re talking about. The other half of the time, they don’t know what THEY are talking about!

I enjoy going to see public speakers like some guys enjoy fine wine, but listening to an economist speak is generally not my idea of fun. Most speeches economists give are so dry you can barely stay awake as they speak. So typically, when invited to hear an economist speak, I’ll skip the speech and just take a nap at home.

But, I go to this holiday auction dinner fundraiser event every year with the Institute of Management Accountants.
It’s for a good cause, benefiting the local food bank. I’m a Past President, so I have to go, even though I find out to my displeasure that the speaker this year is an economist, with an “Economic Update for 2002” Boooooooooring.

“If all economists were laid end to end, they would not reach a conclusion.”
~ George Bernard Shaw

Anyway, turns out this guy comes out smiling like a comedian and opens with 2 or 3 great jokes about economists and then proceeds into a lively and entertaining discussion of what’s really going on in the economy in plain English that even I could understand.

“An economist’s view of full employment is when all of his friends have a job.”

“A recession is when you get laid off. A depression is when the economist gets laid off.”

“What do you get when you combine The Godfather and an economist? You get an offer you can’t refuse AND you can’t understand!”

Here are some highlights of the speech shared with permission from Gary Schlossberg of Wells Capital Management, Wells Fargo.

Click here or copy and paste this link to view the Word Document:
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If you’re hiring, we want the opportunity to earn your business this year. Call us @ 800-786-1099. We look forward to working with you in 2002.

Cheers for New Years!

Warm Regards,
Joe Pelayo

Joe Pelayo, C.P.C.
Joseph Michaels International
Global Recruiting Solutions
Email: jpelayo@josephmichaels.com
Website: http://josephmichaels.wpengine.com
One of the top 75 Recruiters in the United States ~ Recruiter Life Magazine