Leadership teams often find themselves in a vicious cycle of launching a “transformation” every three to five years. All too often after some initial gains, old habits creep back in, the impact is lost, and the transformation is deemed to have failed—resulting in teams losing faith in future efforts.
The latest U.S. Labor Department data revealed that jobless claims for the week ended Aug 17 declined sharply. The figure was 209,000, down 12,000 from the previous week's revised level and way below the consensus estimate of 217,000. This suggests that the labor market is still holding tight despite concerns that the economy may go into recession.