It has been a week of ups and downs and dire predictions for the world economy. The end of the week was marred by wild speculation after trading on the Chinese market was suspended twice, confirming many traders fears that the Chinese economy faces a rocky future.
Good news from the United States did though act to soothe concerns. The US added a robust 292,000 in December the US government revealed. The figures suggest that the economic recovery in the US has taken root, nearly eight years after President Obama launched a multi-billion dollar stimulus into the economy and acted to bail out the US car industry.
A strong US economy is of course critical to the well being of the world economy, but it is to China where the eyes of economists often fall when they consider an economic outlook.
This week George Soros, the famed fund manager who broke the Bank of England commented that the current environment is eerily similar to that of the financial crisis in 2008. Soros also sees a glaring tempest in the tea over China, as the nation struggles to become more sustainable economically.
If another recession is on the cards, then the news is not all bad for the HR industry. During the last downturn HR departments often grew in size as they were tasked with the organisation of redundancies.