The US Stock Market – or also known as Hershey Park’s latest roller coaster – has attracted a bit of attention lately for its long bull run, and now it’s volatility and crashes. As often happens when the stock market misbehaves, my phone starts to ring with clients and business peers asking me what I’m seeing happening in the local economy.
Our trend continues to remain counter to what’s happening in the stock market.
We continue to see strong demand from employers for temporary staff as well as for “perm / direct-hire” positions. The numbers I watch like a hawk – daily orders; open positions; hours worked; assigned temporary employees; etc. – are all continuing to trend upward and are all ahead of this time last year. To me – these are all indicators of a solid local economy. DISCLAIMER – could all this change based on the stock market continuing to decline, or due to other international forces? You bet!!
But based on what we’re seeing from a broad spectrum of companies here in Lancaster County: large and small, local; regional; national; and international… things are not looking like what I’m seeing in the news.
Hold on for the ride – uncertainty will continue to rock the markets – but from what we’re seeing we’re not in for another significant economic downturn. The unemployment rate is low, job growth is up, and demand for employees remains strong.
If you still have questions after reading this – feel free to shoot me an email here.