11/16/2009
NEWS BRIEFS
Beaulieu at STAFDA: Recovery To Be Slow

“The recession is officially over and 2010 will not be a fantastic year, but better than 2009,” economist Alan Beaulieu told the Specialty Tools & Fasteners Distributors Association.

Beaulieu, of the Institute for Trend Research, told attendees at STAFDA’s convention in Atlanta that unemployment would remain high in 2010 and stay above average until 2012, despite a rise in consumer spending.

The economic recovery will be in force by the second half of 2010, according to Beaulieu.

“You just have to get through the next couple of quarters and then things will get better.”

Beaulieu encouraged investment in advertising, as well as employee training for safety, sales and sales management.

“Customers want well-trained staff with lots of product knowledge.”

But Beaulieu cautioned against a hiring rush.

“Don’t be in a hurry to bring employees back,” he advised.

Instead, cross-train your current workforce to function outside their normal job description.

Inflation is coming, Beaulieu warned, so think about price increases. ©2009 GlobalFastenerNews.com

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