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Economic Reports

February 21, 2013 Leave a comment Go to comments

Today we have a bunch of economic reports coming out. As recruiters, do they matter to us? Yes, to some degree they do. We have:

initial weekly unemployment claims, the Consumer Price Index for January
the Markit US PMI Manufacturing Index Flash
the January Existing Home Sales report from the National Association of Realtors (NAR)
the Philly Fed manufacturing survey for February
the Conference Board Leading Indicators for January
the MBA’s National Mortgage Delinquency Survey for Q4

That’s a lot of information. For us, it’s not too important to get bogged down in each number. It’s more important to get a feel for the general trend. When things are weak (i.e. bad Consumer Price Index Numbers or Mortgage Delinquencies) then somebody running a business somewhere sees a red flag and backs off on some orders. And that trickles down through the system. Cancelled orders mean less sales for someone and less revenue, and that results in somebody else making fewer orders and creating fewer sales for someone else. You can see how the snowball gets rolling.

All of this results in less growth and fewer key hires. The snowball rolls the other way as well. More orders mean more sales, which means more orders and more sales etc…. Positive momentum is good for recruiting. Negative momentum is bad for recruiting. It’s that simple.

todd@toddkmiec.com

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