Is a Lean Economy Turning Mean?

As the economy slows and perhaps slides deeper into a recession that may already be under way, cities that have long struggled with a shortage of jobs see work becoming scarcer still. Across the nation, the labor market has been deteriorating. Many companies, long reluctant to add workers, are hunkered down and waiting for improved prospects, engaged in “a hiring strike.”

Americans with jobs are taking cuts to their work hours; those without jobs are staying out of work longer, or accepting positions that pay far less than they earned previously. Teenagers are struggling to land minimum-wage jobs at fast-food restaurants, because those positions are increasingly being filled by adults. And those with poor credit are finding that this can disqualify them from getting a job.

Some economists say the weakness of hiring in recent years may protect those with jobs against the usual impact of a recession: Many companies are so lean that the unemployment rate may not increase much. But the same trend suggests that the impacts of the slowdown are likely to be felt deeply for several years, even after the economy resumes a swift expansion.

[Read](http://www.nytimes.com/2008/03/02/business/02jobs.html?ex=1362200400&en=88034792dc47f58c&ei=5088&partner=rssnyt&emc=rss “Read the Article”) (The New York Times)

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