The Labor Department posted a November jobs gain of 120,000-below the 125,000 estimate.At this point in our recovery,it's a disappointing number,said John Allison,Professor at Wake Forest School of Business and former CEO of BB&T.It's not a bad number,but at this point in the cycle we ought to be creating more jobs.
Businesses are concerned about Europe,rising taxes and regulations.Businesses create jobs through innovation,which is hindered by regulation,Mr.Allison pointed out.
It's very expensive to hire and fire,adds Jeanne Branthover of Boyden Global Executive Search.It's also very expensive to hire and wait for new workers to add value.That's why it's those who are already working who are being hired.
If things are better,they are ready to expand hiring.Plans are already in place so they are ready to immediately pull the trigger if things keep looking up,Ms.Branthover revealed.
Among large companies who are hiring now in spite of these factors are Wells Fargo(10,000+ jobs);Sears Holdings(1,000+);and Morgan Stanley Smith Barney(1,000+).
Branch Banking and Trust(BBT)
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