Word: downturns
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...matter how grim the economic forecast, at least some workers will change jobs voluntarily or retire. "Companies may not be making expansionary or discretionary hires," says Marc Cenedella, founder of TheLadders.com a subscription service that lists only jobs that pay $100,000 and up. "But even in a downturn, there's still 20% to 25% natural turnover per year." In the six-figure category, he estimates that will mean 3.2 million hires a year instead of 4 million in a normal market. (See pictures of the Top 10 scared traders...
Although you'd think that eBay's flagship marketplace business, a site where people go to buy and sell stuff, would flourish in a downturn, it has stopped growing. It's still unclear how badly the credit crisis and buying slowdown will affect an e-commerce value site like eBay, which does half its business outside the U.S. During the 2001 recession, eBay's marketplace continued to thrive because of its Web dominance and discounted goods. Whitman at the time even crowed that "eBay is to some extent recession-proof...
...descriptive word in between. "It's a recession when your neighbor loses his job," Harry Truman once quipped. "It's a depression when you lose yours." What Reich and Morici seemed to be groping for - other than media exposure (mission accomplished!) - was a way to express that the current downturn may be a more serious phenomenon than other recessions of the post-World War II era. (See pictures of the recession...
...growing by May. As for severity, though the first eight months of the recession were quite mild, the pace of job losses since August is beginning to rival that of the big 1970s and '80s recessions. So while President-elect Barack Obama and others who dub this the worst downturn since the Great Depression don't have definitive evidence just yet, they're not blowing smoke either. (See pictures of the stock market crash...
...universities were on better financial standing?” Jon Romano, a Flaherty spokesman, wrote in an e-mailed statement. “Perhaps if we had done this work before, our city—and its budget—would be better prepared to endure the current economic downturn...