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...Among those who are still employed, reaction to deferments and fellowship options largely has been harsh. Many associates privately complain about how law firms have betrayed trust by promising jobs they may not be in a position to deliver. On public (but anonymous) websites like Abovethelaw.com, most critics have expressed outrage at what they perceive to be a breach of contract. Still, Sandra Sperino, an assistant professor of law for the Beasley School of Law at Temple University in Philadelphia, notes that because most states provide at-will employment, firms can change the terms of a job offer...
There are several reasons for all this caution among economists. One is that the numbers aren't all that positive, and a few good days could easily give way to a disappointing run. Also, there's a lot of noise in the data, and seeming turning points are sometimes just the product of flawed measurement and random chance. (See the 25 people to blame for the financial crisis...
...free fall of a few months ago, other parts of the economy are still in sharp decline. To quote Shepherdson again: "The epicenter of the recession has shifted from the consumer to the corporate sector." And it's possible that corporate cutbacks could lead to a relapse among consumers. "The main downside risk probably lies in sharper-than-expected multiplier effects via the dramatic deterioration in the labor market," warned Goldman Sachs economist Jan Hatzius on Monday after predicting that consumer spending would rise for the rest of the year. "Both the weekly and monthly labor market indicators still show...
...news is troubling because labor costs in the U.S., even among highly educated adults, are falling. American workers should be available for employment at salaries much lower than they were two years ago. But, it appears that IBM has elected to move jobs offshore rather than keep them in the U.S. despite the trend of more tech workers losing their jobs here...
...dominance, with the Hu administration so heavily invested in social harmony, it could become vulnerable to infighting if grassroots unrest gets significantly worse. Scholar Min Xinpei of the Carnegie Endowment for International Peace in Washington D.C. argues that the real danger for China is likely to come from discord among the top leadership rather than street demonstrations. As Pei writes in a recent Foreign Policy article, internal Party turmoil could render authorities "less capable of containing social instability and thus creating a vicious cycle of events that could result in progressive destabilization...