COMPANIES BOOST PRODUCTIVITY AND PUT OFF HIRING

Companies boost productivity of existing staffs and put off hiring as jobless claims rise

By Christopher S. Rugaber, AP Economics Writer , On Thursday February 4, 2010, 5:49 pm EST
WASHINGTON (AP) — Employers are managing to boost production without creating new jobs. The question is when they’ll feel the need to ramp up hiring.

Squeezing more output from their existing staffs allowed companies to boost productivity in the October-December quarter. And last week, the number of people filing new claims for jobless aid rose. The two Labor Department reports Thursday suggested that companies are still cutting costs and putting off hiring even as the economy recovers.

Many employers lack confidence that the recovery is sustainable, especially as government stimulus measures fade, economists said. Companies still feel bruised from the recession.

http://finance.yahoo.com/news/Companies-boost-productivity-apf-2077712048.html?x=0

Related Posts:

• The unemployment rate could hit 10.3% in Friday’s report.
• The biggest problem affecting economies all over the world is that PRICES OF GOODS AND SERVICES ARE FAR TOO HIGH RELATIVE TO INCOMES.
• STIGLITZ SAYS U.S. RECESSION “NOWHERE NEAR” END AFTER GDP JUMP
• U.S & Japan: Consumer confidence falls further in July
• From Bloomberg this a.m: “Unemployment Probably Topped 9% in May: U.S. Economy Preview

Leave a comment