And let’s go to the next slide. Indecision leads to missed opportunities. That’s what happens, when you have executives in an industry where they are not making the decisions they need to. What we see happening right now, what we’ve seen at some companies over the last year is that during this stop and start recovery there have been a lot of indecisions.
Executives just become paralyzed. They are not sure if they should hire, and I think that’s one of the reasons you’re seeing hiring lag so much. There has been lot of effort put into automation, but a lot of uncertainty about hiring. You’re seeing that people don’t know if they should invest going forward. Should they make that acquisition?
The issue with that is that this is behavior that was probably rational and safe, and certainly last yeear and probably this year, this whole idea of not committing to going forward the concern that I would have if I was an executive at a manufacturing firm right now is, is that going to be prudent this year or next year. Because if the economy is taking off right now, as much uncertainty there is out there, this could be the time where you need to move forward.
So, let’s go to the next slide, please. The interesting thing about this is that so many firms right now are having a difficulty even figuring out, what’s going on, and one of the interesting things I’d like to point out here is if you look at information technology, IT unemployment remained significantly higher than you might have expected. And what we have seen anecdotally is that a lot of IT departments were understaffed, and so a lot of basic IT updates, rollouts, even maintenance tasks certainly, new installations got delayed and didn’t happen.
What we see a lot of times, too, with downsizing, with the decrease in size of IT departments, reporting becomes a problem. Key executives use to be able to say like, give me this report, give me that report. But now there is nobody there to pull it together, and what’s that means then if nobody is pulling it together, the executive has to make a decision of whether they are going to invest the time themselves, they’re going to have their staff do it, or do they just fly blind or do they just say, let’s just hold on.