Wall Street Journal - WASHINGTON—The U.S. labor market could stay sluggish for a while, with small-business executives reluctant to hire amid the murky economic outlook.
Almost two-thirds—64%—of small-business executives surveyed said they weren't expecting to add to their payrolls in the next year and another 12% planned to cut jobs, according to a U.S. Chamber of Commerce report to be released Monday. Just 19% said they would expand their work forces.
This comes after a Labor Department report Friday showed employers added few jobs in June, and unemployment rose to 9.2%. The bleak figures joined other data showing the recovery losing momentum in recent months, which has caused many analysts and policy makers to lower their forecasts for economic growth in the second half of the year.
More than half of the small-business executives in the June 27-30 survey cited economic uncertainty as the main reason for holding back on hiring. About a third blamed lack of sales, while just 7% pointed to problems getting credit. - Continue reading...
U.S. Payrolls Grow at Slowest Pace in Nine Months as Jobless Rate Climbs
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Blog author's comments - Unemployment at 9.2%, 64% of small business execs won’t be hiring and 12% of small business execs planning cuts. This is what we get when the country votes for and elects a Socialist who’s never had a real job to be the leader of our country.
What is pathetic about Obama - he apparently believes he has done a good job and what he has done in less than three years should have no adverse effect on him in the 2012 election.
It's past time for the Republican conservatives to inform the voters what Obama and the Democrat Party have done to the economy and want to continue to do. The only way to stop what is happening is to bounce Obama and his regime out of Washington.
HT: GWP
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