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The CEOs aren't telling the truth either.
Productivity - the measure of profit per employee - is up. Employees on the payroll are working harder for the same pay. Many companies are actually showing better margins, even with slipping sales. And not all companies are showing slipping sales. Some are doing quite well, AND they've laid off thousands, making themselves more profitable.
There is simply no reason to hire. That's the plain simple truth of it.
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