Upcoming jobless report unlikely to show improvement - WAOW - Newsline 9, Wausau News, Weather, Sports

Upcoming jobless report unlikely to show improvement


WASHINGTON (AP) -- Economists say the country needs more jobs to quicken the recovery, but the July numbers due this morning are unlikely to show it.

It's believed that 65,000 jobs were lost last month even though the private sector is thought to have added 90,000. The expected drop is explained by the end of more Census Bureau positions, which were temporary. But even without those losses, analysts say a 90,000 job increase in private sector work is not nearly enough to reduce the unemployment rate.

The jobless rate was 9.5 percent in June, but is expected to edge up to 9.6 percent for July.

Without more jobs, Americans are likely to remain cautious about their spending, restraining the economic rebound. But without more spending, companies will likely be slow to hire.

Powered by Frankly