Survey: More companies to boost hiring
The National Association for Business Economics' survey shows that fewer companies plan to cut jobs.
The job market is improving, according to a survey by the National Association for Business Economics.
The NABE's second-quarter industry survey said employers grew payrolls for a second straight quarter, with the percentage of companies increasing staff levels rising to 31%, the highest level in three years and up sharply from the 6% the survey found in the second quarter of 2009.
Only 14% of companies said they plan to cut jobs, a big drop from 36% in the second quarter a year ago.
The survey showed that 39% of the businesses said they expect to hire more workers over the next six months -- the most since January 2008.
The survey offers some hope for the unemployed. The jobless rate in the U.S. was 9.5% in July and has averaged 9.7% for the first six months of 2010.
There was some caution about gross domestic product, however. The number of respondents who expect real GDP to expand more than 3% this year fell to 20% from the 24% who thought so in April. Two-thirds of respondents believe GDP will expand by more than 2% this year.
The survey is based on 84 NABE economists who work for private-sector companies and industry trade associations.
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Markets in Asia ended on a mostly higher note.
- In economic data:
- Japan's Retail Sales fell 0.6% year-over-year (expected -0.5%, previous -0.4%), while Household Spending dropped 3.0% year-over-year (expected -3.8%, prior -8.0%). Separately, the Unemployment Rate ticked up to 3.7% from 3.5% (consensus ... More
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