Dealing With the Slowdown in the US Economy - A Perspective | Tim Tolan | Healthcare Blogs Skip to content Skip to navigation

Dealing With the Slowdown in the US Economy - A Perspective

August 4, 2008
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With the ongoing slump in the housing market and the steady rise in gasoline and food prices constantly thrown in our faces, it’s no wonder that Americans fear the worst for our economy. You can’t turn on the news or pick up a newspaper without hearing the media’s increasingly pessimistic reminder on how bad things are.

But is the economy really all that bad?

Sure, things could be better and being in a down economy is not something to be taken lightly. But… is it fair to compare our current situation to “The Great Depression”? Is it really necessary? Hey, I’m in the search business and certainly do not profess to be an economist – that would be a huge stretchJ

And yes, we too have felt a bit of a slowdown from our clients. Some candidates are choosing to hunker down for a while and ride out the storm instead of evaluating a new opportunity. But, in the end, it’s not all that bad!

The facts convey a different message all together. Compared to the last two recessions, unemployment rate is still fairly low and the GDP is still on the rise. And yes…. companies are still hiring talent! Albeit, not at the same levels – companies are still hiring! Let’s not push the red panic button - just yet.

I think it’s safe to say that the doom and gloom view of our economy is fueled by the media and all one has to do is turn on the evening news (if you can stand it) and you will hear the same data points replayed over and over. It’s like watching Sports Center or CNN Headline News – except it’s not re-runs of the news every 30 minutes. It’s worse! It’s every 30 minutes every DAY!!
Day after day after day….Same story!
C’mon – it’s not smart to put your head in the sand and think that things have not changed. I get that. But...we have to adapt to the current environment and find ways to keep moving forward. It is (way) too premature to throw in the towel - not to mention how this constant attitude of gloom and doom wears us down mentally and emotionally. Standing around the water cooler and talking about our country’s daily woes is probably not the best way to spend our time.
You know the game…Stay focused, keep your head down and… this too shall pass. It always does. We all work in healthcare – one of the largest sectors of our economy and it’s still growing! That is a very good thing for all of us.

Wait… I have a phone call from a new healthcare IT client looking for a CIO.

Gotta run!

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