Unemployment Probably Rose as U.S. Companies Limited Hiring
- Timothy R. Homan - Bloomberg.com
- Oct 7, 2010
Unemployment probably climbed in September for a second consecutive month as slower U.S. growth prompted companies to limit hiring, economists said before a report today.
The jobless rate rose to 9.7 percent from 9.6 percent in August, according to the median estimate of 83 economists surveyed by Bloomberg News. Payrolls excluding government agencies rose by 75,000, while a drop in public staffing as the decennial census wound down caused total hiring to decline for a fourth straight month, the report may also show.
A lack of jobs underscores the concern expressed by some Federal Reserve policy makers that the rebound from the worst recession since the 1930s has been too slow and may require easier monetary policy. Economists surveyed by Bloomberg project unemployment will average at least 9 percent through 2011, which may restrain consumer spending, the biggest part of the economy.
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