Easy question to answer: it’s killing recruiting and most recruiters are feeling it or have left recruiting to find something to tide them over until markets rebound. Unfortunately the downturn in recruiting is compounded by anxiety over the future. I have spoken with dozens of companies that are doing just fine minus a mild retreat in sales, but because of the horror stories they are hearing in the press they have put off hires until they start to get positive news or gain some confidence that what is happening to pillar of American capitalism isn’t going to happen to them.
Most economists are predicting job losses through the second quarter with positive economic growth in the third quarter, followed by increased activity throughout the fourth quarter and a strong rebound in 2010. It’s not that far before we start to hear good news again!