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The headlines for more than five years have trumpeted the twin maladies of a dire economic condition across the globe and spiraling unemployment. The impact of the contracting world economy has severely affected global trade and domestic production, and the hardest hit is felt by families who lose jobs. As the economic engine sputters back to life, employers need help finding the best employees, and use pre employment assessment tests to do it.
As the situation worsened, the unemployment rates grew to sizes not seen since the great depression, and a version of a labor death spiral took effect. With more unemployed individuals, the number of families struggling increases, and there is less money to be spent on anything. The decline in retail activity in turn results in decreased for laborers from manufacturing to transportation to retail outlets.
The cause of this entire financial debacle is yet t be precisely defined, but plenty of officials believe their is plenty of culpability in the banking industry. As regulators scrutinize financial institutions with an eye towards pinning cause and perhaps seeking remuneration, banks made available credit increasingly difficult to access. These dour times also caused those who might otherwise have expanded, invested and spent money to become even more cautious and conservative.
Companies that might, in a better economic climate, make large investments in capital resources, increase production and expand, simply deferred these options. This virtually ensured that the efforts to recover from the crisis would become more difficult. As corporations began to assess the environment and determine that, while things could be better, there was a bottom to the market fall, they began to act.
As is often the case when the problem is so systemic, it is up to the federal government to turn things around. As the only level of government that can incur a deficit, it is the only place action could be taken, though not without significant controversy. Economists, however, felt it was the only possible solution, spending government money to fund work that re-employs those who have lost their jobs.
While the action that was finally passed was not as large as the administration desired or that many economists believed was necessary, it was a much needed pump priming effort. Combined with making capital available to large companies on the brink of failure, the action seems to have done the trick. While many will feel that the money spent rewarded the very people who began the problem, a recovering economy means it was probably a smart move.
As the financial waters calmed, the beginnings of a recovery emerged from the chaos and turmoil, jobs began to appear, and finally the continuing net loss of jobs was finally stemmed. Since then, a steady progression of positive job growth has been realized. There is still much work to be done to return to vibrant employment, but the trend is in the right direction.
Once an opportunity becomes available, employers are overwhelmed with the number of applicants, and making a selection becomes difficult. Naturally, this is a much better situation for the employer with an open position, but it is still complex. Pre employment assessment tests level the competitive field and help the best candidate get the position.
As the situation worsened, the unemployment rates grew to sizes not seen since the great depression, and a version of a labor death spiral took effect. With more unemployed individuals, the number of families struggling increases, and there is less money to be spent on anything. The decline in retail activity in turn results in decreased for laborers from manufacturing to transportation to retail outlets.
The cause of this entire financial debacle is yet t be precisely defined, but plenty of officials believe their is plenty of culpability in the banking industry. As regulators scrutinize financial institutions with an eye towards pinning cause and perhaps seeking remuneration, banks made available credit increasingly difficult to access. These dour times also caused those who might otherwise have expanded, invested and spent money to become even more cautious and conservative.
Companies that might, in a better economic climate, make large investments in capital resources, increase production and expand, simply deferred these options. This virtually ensured that the efforts to recover from the crisis would become more difficult. As corporations began to assess the environment and determine that, while things could be better, there was a bottom to the market fall, they began to act.
As is often the case when the problem is so systemic, it is up to the federal government to turn things around. As the only level of government that can incur a deficit, it is the only place action could be taken, though not without significant controversy. Economists, however, felt it was the only possible solution, spending government money to fund work that re-employs those who have lost their jobs.
While the action that was finally passed was not as large as the administration desired or that many economists believed was necessary, it was a much needed pump priming effort. Combined with making capital available to large companies on the brink of failure, the action seems to have done the trick. While many will feel that the money spent rewarded the very people who began the problem, a recovering economy means it was probably a smart move.
As the financial waters calmed, the beginnings of a recovery emerged from the chaos and turmoil, jobs began to appear, and finally the continuing net loss of jobs was finally stemmed. Since then, a steady progression of positive job growth has been realized. There is still much work to be done to return to vibrant employment, but the trend is in the right direction.
Once an opportunity becomes available, employers are overwhelmed with the number of applicants, and making a selection becomes difficult. Naturally, this is a much better situation for the employer with an open position, but it is still complex. Pre employment assessment tests level the competitive field and help the best candidate get the position.
About the Author:
Candidates can now undergo pre employment assessment tests via www.mentortt.com. If you want to find out more, read our blog at http://www.mentortt.com.
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