US firms hiring, but isn't enough to reduce unemployment

By ASSOCIATED PRESS
October 8, 2010 08:51
1 minute read.

 
X

Dear Reader,
As you can imagine, more people are reading The Jerusalem Post than ever before. Nevertheless, traditional business models are no longer sustainable and high-quality publications, like ours, are being forced to look for new ways to keep going. Unlike many other news organizations, we have not put up a paywall. We want to keep our journalism open and accessible and be able to keep providing you with news and analyses from the frontlines of Israel, the Middle East and the Jewish World.

As one of our loyal readers, we ask you to be our partner.

For $5 a month you will receive access to the following:

  • A user experience almost completely free of ads
  • Access to our Premium Section
  • Content from the award-winning Jerusalem Report and our monthly magazine to learn Hebrew - Ivrit
  • A brand new ePaper featuring the daily newspaper as it appears in print in Israel

Help us grow and continue telling Israel’s story to the world.

Thank you,

Ronit Hasin-Hochman, CEO, Jerusalem Post Group
Yaakov Katz, Editor-in-Chief

UPGRADE YOUR JPOST EXPERIENCE FOR 5$ PER MONTH Show me later

On Friday, the US Labor Department will issue the final monthly jobs report before the midterm congressional elections. The report is expected to indicate that companies likely added a small number of jobs last month, but hardly enough to bring much relief to the nation's 15 million unemployed. Results from the report are expected to leave US President Barack Obama in a precarious position: Democratic members of Congress will face voters with unemployment likely above 9.5 percent.

Economists estimate private employers added a net total of 75,000 jobs in September. But they expect that number to be offset by the loss of an equal number of temporary Census jobs. Overall, economists expect no change in the nation's total payrolls.

The unemployment rate is projected to rise to 9.7 percent from 9.6 percent, according to a survey of economists by Thomson Reuters, as more people look for work. People who are out of work aren't counted as unemployed until they actively look for a job.

Economists see few signs that the jobs situation will improve anytime soon.

"There's not much growth going on in the economy right now, so that doesn't give employers much reason for hiring," said Nigel Gault, an economist at IHS Global Insight.

Gault said he expects the pace of job creation to remain similarly weak for the rest of this year. Some economists say the unemployment rate could top 10 percent by next year.

Join Jerusalem Post Premium Plus now for just $5 and upgrade your experience with an ads-free website and exclusive content. Click here>>

Related Content

Breaking news
September 20, 2018
Friedman slams PA for 'unconscionable' practice of slay for pay policy

By JERUSALEM POST STAFF