Friday, October 08, 2010


Economists see few signs that the jobs situation will improve anytime soon. data due out 8:30 and could be market mover

"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.

The economy expanded at a scant 1.7 percent annual rate in the April-June quarter. Most analysts think growth was similarly weak in the July-September quarter.

Since the recession ended in June 2009, the economy has grown 3 percent, according to economists at Deutsche Bank. That's less than half the average 6.5 percent pace in postwar recoveries. "

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