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If you've ever hired a construction contractor to perform work on your house you have probably heard the old saying, "Beware of the low bid." This sage advice suggests that hiring the cheapest contractor won't always result in the finished project you desire. This advice could be applied to hiring managers filling positions during tough economic times. When the economy cools down organizations respond in a number of ways. One common response is to dramatically slow down hiring or to even lay off workers. While not every organization lays off workers or freezes new hiring, when enough companies do it has a considerable effect on the employment market.
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