The job outlook doesn't look terrific for the coming year, at least according to statistics published by the American Management Association (www.amanet.org). Nearly two-thirds of business execs surveyed forecasted that their U.S. workforce would either remain the same or decrease in 2003. On average, those who reported a downsizing estimated a loss of 7.8% of their workforce. Top reasons for eliminating jobs: Organizational restructuring (44%); Lower demand for products (40%); and improved efficiency (31%). There's good news, though: 89% of execs say that they plan to give raises and bonuses to their employees this year.
Fifty-six-year-old Pasquale Russo has been doing metalwork for more than 30 years in a tiny southern Italy village. Many craftsmen like him brought with them fabrication skills when they came from the Old World to America.
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