Posted: Aug 5, 2011 3:14 AM by Trovette Tottress
WASHINGTON (AP) - Amid worry about the U.S. economic slowdown,the government issues the monthly unemployment report Friday morning.
Economists look for it to show that employers added 90,000 jobs. The unemployment rate is expected to remain unchanged at 9.2 percent. That would be an improvement over June, when the economy added just 18,000 jobs, the fewest in nine months. But at that level, not enough hiring is being done to substantially reduce the unemployment rate. At least 125,000 jobs a month are needed to keep up with population growth. Twice as many are generally associated with significant declines in the unemployment rate, which has risen for three straight months. Economists at Bank of America Merrill Lynch estimate there's a 35 percent chance of another recession within the next year.