Corporate profits are soaring. Companies are sitting on billions of dollars of cash.
But nobody's hiring.
Senior executives blame the caution on their view that U.S. consumers will be disappointed for many years [since] the economy is unlikely to see the kind of almost unbroken prosperity of the quarter-century that preceded the financial crisis.
Because we got us change!
They see Americans for years ahead paying down debts incurred during the now-ended credit boom and adjusting spending to match their often-reduced incomes.
Not to mention greatly increased taxes.
"Congress has been very tough on businesses," said Jason Speer, chief executive of Quality Float Works of Schaumburg, Ill.
Looking for more efficiency, not more employees, more cautious about investment, more risk-averse, since rewards will be less. |