Many companies cut payrolls To the bone and are making products with fewer people. All this cost cutting has been terrific for bottom-line profits and good news for investors who have seen stock prices soar.
This year, we could be talking about a twist in the profits story that has more economic stretch. Economists say this year’s profits will come from an uptick in sales, not widespread layoffs. There’s a good chance we’ll discover that the economic recovery has real legs and, finally, real jobs.
Economists are increasingly confident that this year more companies will be forced to spend more money on equipment, buildings and payrolls.
The result of a strong profits picture in 2004, economists say, will be more jobs