According to the McKinsey Quarterly (www.mckinseyquarterly.com), executives in North America and Asia are least likely worldwide to say their companies will hire over the next six months.

Thirty-three percent of North American executive respondents said their companies will increase their workforce over the next six months; however, 40 percent said their workforce levels will not change, while 27 percent say their workforce will decrease. As recently as the fourth quarter of 2007, only 17 percent of North American executives said their workforce would decrease.

The bottom line is that many business and government representatives feel the U.S. economy is facing a rough patch for most of 2008, and that outlook spells bad news for workers, despite the stimulus checks coming our way in a few months.