533K Jobs Lost

The latest jobs number was obviously not good - a loss of 533K jobs last month, which is a very ugly number. Still, if one were to look at a silver lining, it might just be that companies are becoming much more nimble and are willing to take immediate cuts to preserve competitiveness and profitability. Years ago, job losses would likely have been more gradual. Today, companies cut dramatically in anticipation of the worst case.

Not good news, but it does point to our ability to adapt rather quickly to dynamic events.