Since most of your customers will be here, if they have no jobs, you have no customers, therefore no income and finally, no business.
No offense intended, but expand your horizons slightly and look at a bigger picture and you will see things beyond your nose that will affect you down the road.
Picture an economy dominated by people working at Wal-Mart for $5 an hour selling foreign-made goods.
Now picture your business operating in that setting where the vast majority of people are minimum-wage workers and your business is being taxed up the wazoo to cover "entitlements."
While I agree most union shops and fresh grads who think they can demand dot-com wages in a sagging economy need to think again -- look at the overall picture and you'll see that an economy that produces nothing will not survive.
On the flip side, if the American Consumer, who has been propping up the global economy stops consuming, well....we know where that will lead (1931) don't we?
Hence, I'm concerned about the overall picture as opposed to the minutia, but even that starts to add up after a while.