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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[BRIEFING.COM] Equity indices closed out the month of August on a modestly higher note. The Russell 2000 (+0.6%) and Nasdaq Composite (+0.5%) finished ahead of the S&P 500 (+0.3%), which extended its August gain to 3.8%. Blue chips lagged with the Dow Jones Industrial Average (+0.1%) spending the bulk of the session in the red.
The final week of August represented one of the quietest stretches for the stock market so far this year. The first four sessions of the week produced the ... More
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