Depressed About the Economy - Turn Off the TV....

Posted by Expert Gadget Reviewer on Monday, 7 June 2010

Its easy to fall into a funk watching the "talking-heads" go on and on about how bad things are right now. The recent jobs release on Friday was supposed to show 513,000 additional jobs in May - it only came in at 431,000 - and all but 41,000 of those jobs are temporary census jobs.

Lets all agree these aren't great numbers, but from the reaction of the stock market (down over 3% on Friday), and the hue and cry of the "experts", one would believe we are again falling off a cliff.

Lets look through the numbers: the average workweek increased to 34.2 hours from 34.1 hour in April, and manufacturing workers also saw their workweek rise 0.3 hours to 40.5 hours. I can tell you from my own experience, that we have brought staff that had been working 24 to 32 hours a week back to a full 40 hours. This is a precursor to adding additional staff.

Lets all take a deep breath and remember that the media makes its money by creating exciting storylines - that may or may not bear a faint resemblance to actual reality. From my small corner of the economy, things are tracking slowly and surely upward (and last time I checked, the economy of Hungary has no real impact on my business).