Asked by Joselyne Saldaña Gonzalez on Jun 20, 2024
Verified
A drop in demand for contingent,temporary,and contract employees can predict an economic slowdown.
Economic Slowdown
A period of reduced economic activity, often marked by decreased GDP growth, higher unemployment, and lower consumer spending.
Contingent Employees
Contingent employees are workers who do not have permanent employment status but are hired on a temporary or contractual basis for a specific project or period.
- Perceive the labor market's role in shaping organizational strategy.
Verified Answer
AA
Atoum AbdullahJun 27, 2024
Final Answer :
True
Explanation :
When companies are uncertain about the future of the economy, they tend to rely less on contingent, temporary, and contract workers as those positions are usually the first to be cut during budget reductions. Therefore, a decrease in demand for these types of employees can be an early warning sign of a potential economic slowdown.
Learning Objectives
- Perceive the labor market's role in shaping organizational strategy.