Lack Of New Jobs Indicates Economy Will Grow Slowly Throughout Rest Of 2010

August 6, 2010
The private sector is not hiring enough to bring down the unemployment rate and yet, the bill passed by the U.S. house which would finally make financing available to small businesses has stalled in the Senate. Doesn’t make much sense to us! reported that, “Companies showed a lack of confidence about hiring for a third straight month in July, making it likely the economy will grow more slowly the rest of the year.

“Private employers added a net total of only 71,000 jobs last month, according to the Labor Department’s July report Friday. That number was far below the roughly 200,000 needed each month to reduce the unemployment rate. The unemployment rate for July was unchanged at 9.5 percent”

To read the complete article go to: Companies hire at slow pace for third straight month