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Employers preparing to hire next year
A job seeker shakes hands with a potential employer at a job fair in San Francisco
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TEXT OF STORY
Stacey Vanek-Smith: Good news, also, on the jobs front. A survey out this morning from the National Association for Business Economics found companies are actually planning to hire early next year. John Dimsdale reports from Washington.
John Dimsdale: A survey of business economists predicts growing demand for products and services. That should generate job creation by the new year.
But Richard DeKaser with the National Association for Business Economics says don't expect a quick bounceback:
Richard DeKaser: With gains in labor productivity, businesses are increasingly able to satisfy increases in demand up to a certain point. But beyond that point, they will have to hire new labor, and we think we're approaching that switching point right about now.
High unemployment lingering into an election year puts pressure on the Democratic majority in Washington to consider more government stimulus of the economy. Deficit hawks, though, will argue the first stimulus didn't work, and more will only saddle future generations with extra debt.
In Washington, I'm John Dimsdale for Marketplace.
Any government stimulus should be an asset investment. I think FDR's and Eisenhower's stimulus plans were so successful because many of them are still assets to this day. Plus if LA can get a $100 million bribe, why can't Texas get a $200 million bribe for not being leaches on the federal economy?
