The Mc Kinsey Quarterly has recently done a global survey between 9th and 16th September-on the hiring outlook for the quarter!
A lot has since happened in the last fortnight. And as I write in this post, Wachovia is on block-and a Japanese company is investing in Morgan Stanley.
Needless to say- there would be shrinking job market-in the near future. Not just in the financial services industry or the manufacturing industry. The low consumer confidence would surely affect a whole of lot of other sectors.
However, the executives in the energy sector expect hiring levels to rise!!
It seems likely that energy companies are drawing on their enormous profits to continue exploring. Most executives across industries are confident that they can do more with less. Upward of half say that their companies’ productivity—defined as units of products or services delivered per hours worked—has increased over the past year and nearly two-thirds say it will continue to improve over the next six months.
It is anybody's guess though how long the energy prices will remain high. I for one, would not want to wager at all. Did some one say, change is the only constant!! Well, the world is changing..every day !!