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] The stock market finished an upbeat week on a mixed note. The S&P 500 added just over a point, holding its weekly gain at 1.0% while the Nasdaq lost 0.4%.
The major averages began the day on an upbeat note, but relinquished their opening gains during the first 90 minutes of action. The early sentiment was boosted by a better-than-expected nonfarm payrolls report for February (175K versus Briefing.com consensus 163K), but a closer look into the report suggested that ... More
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