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Sentiment on the -- jobs report is back on Wall Street today as you can see by the market but my next guest says we're facing -- reality of slow jobs growth.
And CEOs are still holding back on hiring so joining me now -- -- and CEO of Korn Ferry International a leading executive search firms so you have the view from the top up here.
And simple but most important question his car companies hearings.
Now I'd say you know CEOs it doesn't make -- what industry you're in there's a real fight for growth and relevancy today.
And you just don't have this conspicuous consumer.
So everybody's trying to drive the top -- people are investing in software to actually dis intermediate jobs.
So companies are not really hiring we've been running on a -- not the same place just -- mediocre jobs report after a mediocre jobs report how long do you expect that.
Mediocrity the last.
It's gonna continue for awhile -- you know I'll.
Can be five years I mean this is the new normal you know -- what it is I think that in you need to go back 1015 years that growth was artificial.
And then it was pumped up by incredibly low interest rates.
So I think this is gonna continue.
So how do you operate a business you are a public company.
How do you maintain your profits.
May well slow growth environment when companies are not hiring at the -- you'd like them to.
Yeah for any CEO there's there's really you know three or four -- either consolidate.
You innovate or you look to the east you know you -- you try to export America.
And grow the pot.
-- though we've seen some struggle with that recently China's slowing down Europe slowing down we have this possibility the Fed tape or maybe in September -- Those are three negatives I just threw out you what do you most concerned about out of those three.
You know look long term two thirds of the world's middle class is going to be in Asia.
So America still needs to export America.
A lot of clothing manufacturers for instance are starting to pull in manufacturing back here they say it's cheaper the quality is better they can get the products out faster.
We lost over the past -- -- three.
Jobs in clothing factory production.
Overseas right we're bringing them back -- slowly but what other industries DC coming back here and being sources of growth domestically.
-- I think it's going to be broad base and I lived in China last summer and the reality is that the cost of living.
The turnover was thirty -- content and so you will see across the board industrial companies we look at the auto manufacturers right at the results -- mean that is really good news for America.
Yet the manufacturing sector in mid June jobs report she had 6000 jobs it wasn't not a manufacturing is actually and the medals in the mining sector which makes sense -- you see the tumbling commodities today but I want to end on a positive note.
And I think I can find it if you share with us corn ferries.
As survey on companies that intend tell hire is their positive here there.
And it's up some stand again you know when -- when we -- companies about 60% of CEOs and within a higher -- -- you know over the the next twelve months which is good.
Well and if there.
On a summer Friday thank you very -- and thanks for being with us in that.
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