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John Challenger of Challenger, Gray & Christmas discusses the economic impact of the flu this year.
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Now it's -- about this flu season and have been record breaking as we mentioned a moment ago it actually could wind up costing employers.
Billions of dollars as well because of lost productivity and we're joined on the telephone now to talk about this by John Challenger.
Who's the CEO of the outplacement firm challenger.
Great Christmas.
Would see this kind of developing already haven't done.
He has seen this in fact.
-- -- these disease control has estimated.
The dead people outbreaks this year could cost employers.
Ten point four billion dollars in direct cost.
For hospitalizations.
And outpatient -- and that doesn't include indirect costs related to lost productivity and absenteeism.
What about companies side of the -- what are they recommending or what should they be recommending.
In terms with how their employees handle this.
The company's current stock traditionally they basically have -- their people to come in NASDAQ ethic that even if you're sick young I'm a little bit stick -- this -- -- but all of a sudden they're realizing now that.
-- -- get a little bit of actual part of -- that one person coming in that's -- in fact.
220 years thirty others then the productivity is way down so more and more companies are putting in plans.
Two encourage -- workers stay home to telecommute.
And not come to work.
Because more more people.
The Mena and you should probably -- -- stats on this -- the me more and more people working for Paul anyway even when -- when they feel fine right.
We are seeing that that you're so big think.
-- a bit many workers there are just reluctant.
That it not come into work economies still on shaking -- shaky ground people are worried about losing their jobs and so what they do.
They just -- -- and they don't want -- -- get mad at him and so they just get the work done the problem is that has these consequences.
And many companies you know our our trying to change.
The way they've been doing things -- along can't.
-- they don't wanna get their boss mad at them at the end of the day they don't wanna get laid off and they're still concerned about that and shaky job market but.
John Challenger with us from challenger gray and Christmas to ask you more broadly about that market which is your specialty.
-- kind of trends we -- new things getting better broadly speaking are now.
-- color and -- best of both worlds -- situation right now we've had a significant job creation.
Averaging 150000.
Jobs -- the last two years more than two and a million people are working right now I don't were a year ago December to December.
And yet as we look forward we know that the fiscal cliff.
-- the raising of taxes and that cutting the study is gonna slow the economy down.
As some companies are still in this cautious mode as they move into 2000.
You know we thought -- be all this certainty but in fact with the congress really did was create even more uncertainty by creating at least one if not -- -- more.
Additional cliffs.
-- on top of the fiscal cliff that we just.
I got through one.
Things you know we're talking about trends.
Going into the new year earlier and I want things -- came up his full time work vs part time work and the fact that.
You know still part time work is for better or worse can it in and and full time work is not 2013.
See any difference.
In those types of trends -- -- -- people are starting that want full time.
Work to get it.
But companies just aren't going -- Create -- kind of full time job they do and unemployment is very low.
Because they're not sure their -- so what they do in demand grows that they bring on more part time workers.
They get the work done and then.
If that works stays steady they may convert that some of -- people in the school -- workers.
Banks elsewhere in this situation where it was unemployment so -- the economy growing at 2%.
Employers aren't gonna go out.
That would indicate that you got a big labor pull out there at twelve million people unemployed and other.
Peace day.
Yet they don't have to John challenge always good to talk to you thanks for coming on today appreciate it.
Entrapment.
And now.
