What is going on with recruitment economy

i have to admit i no longer have a clue quite what is going on - in the macro world - we are confronted with a media bombardment of bad news and scare stories - share price depression and poor financials from banks, media groups etc. and yet...in micro world

• i dont know anyone personally who has been laid off due to economic factors
• OME has just had by far its best month ever (July 2008)
• Virtually all organisations are still recruiting in some form

So for the present i am going to continue to buy my Starbucks every morning and leave the jar ot Mellow Birds at the back of cupboard for when times are really tough....