As the economy continues to improve, more companies are ramping up their hiring efforts. Economists predict that around 200,000 jobs a month will be added throughout the year. Manufacturing has been a leading sector in the past months, and we’re seeing many major well-known companies expanding and looking to hire hundreds of positions.
The decrease in unemployment will allow for more of consumer’s money to be spent in the economy thus generating even more hiring. The new income for consumers is important as we see gas prices continually rising and large debts incurred during the recession that need to be paid off. Economists hope that gas prices will level off in the coming months to allow for consumers to have extra spending money to fuel the economy and continue to increase hiring.
Bartash, Jeffry. “Jobs report to shed light on U.S. economy .” MarketWatch 1 May 2011: n. pag. Web. 2 May 2011. http://www.marketwatch.com/story/jobs-report-to-shed-light-on-us-economy-2011-05-01?reflink=MW_news_stmp.
Crutsinger, Martin. “Hiring likely to boost spending despite gas prices.” Associated Press 29 April 2011: n. pag. Web. 2 May 2011. <http://www.businessweek.com/ap/financialnews/D9MTI2104.htm.