To Understand the Weak U.S. Hiring Numbers, Look in the Mirror
"There is almost a universal misunderstanding of the 27 million businesses that create the vast majority of jobs in this country," Brian Hamilton, CEO of Sageworks, points out. "Only about 5,000 businesses in the country are public companies. The rest are privately held, run by people, who -- like the rest of us -- worry about paying their bills, sending their kids to college, and/or saving for retirement."
In other words, they're practical. They have to be. Hamilton goes on to argue it's only logical in this environment that such businesspeople would try to control their biggest operating cost -- personnel. "If someone told you that you might lose your job next month, would you start spending more money?" he asks.
In 2008, Scrooge hit the holiday parties. CEOs of companies small and large may not be seeing many kids' faces these days. But with unemployment remaining above 9%, sadness abounds.
We'll be speaking on-camera with Brian Hamilton next week about why hiring has been so slow to recover. If you've got specific questions for him, let us know in the comments.