I don’t see a direct correlation between corporate profits and employment and in fact would suggest that when the world is becoming flatter and flatter and technology advances at a high-speed this basic notion of “If a company is doing well it will hire more” will slowly taper out.
Take for example Consulting and Professional services sector which has done well and thus Big 5 are hiring in India and China at breakneck speed .Same goes to Manufacturing sector where technological advancements and outsourcing have kept the company profits buoyant where as hiring is down. I think this is a fundamental supply problem, think of it as this way , If Walmart gets a product manufactured for lesser cost than doing it in China why would it not change its procurement policies ?
Now this can be done either 2 ways one is to increase our population and thus the add cheaper workforce (which is not practical) or get the use of technology to reduce the price to produce. The demand is there but supply of labor force is short
