Fed: Recovery spreads but doesn't spur hiring

[The Northerner]

Source: Associated Press

WASHINGTON – The economic recovery is spreading to more parts of the country but has yet to spur companies to ramp up hiring.

A new Federal Reserve survey, released on Wednesday, underscores the duality of the economic turnaround: even as the economy grows and the recovery extends its reach geographically, more than 15 million people remain unemployed.

The Fed observed that although "economic activity remains at a low level, conditions have improved modestly further." However, the Fed also noted that "labor market conditions remained soft" in most of the Fed's 12 regions as the new year started.

In a disappointing news last week, the government reported that companies chopped 85,000 jobs in December. The unemployment rate held steady at 10 percent only because more than a half-million people abandoned their job searches and left the work force. If they didn't drop out, the unemployment rate would have jumped to 10.4 percent, analysts say.

Read more: http://news.yahoo.com/s/ap/20100113/ap_on_bi_go_ec_fi/us_economy

[fasttense]

1. Just another jobless recovery, which is no recovery at all. n/t

[Vincardog]

2. The ENRON accountants can way whatever they want. Until there are JOBS and RISING Wages there is no

RECOVERY

[xchrom]

3. I shoulda been a bankster. Nt

[DJ13]

4. I think their data only looks at the stock market

Thats the only excuse for trying to claim theres any kind of recovery happening.

[Rapier09]

5. The cherry on top of the insanity

Even if job conditions were to improve and there are quite a few reasons why they should. This still wouldn't count as much of a recovery,growth is mediocre as best and we're still looking at an implosion of commercial estate.

[rwheeler31]

6. These greedy businessmen want Obama to fail. They will

make it as miserable as possible for us as long as they can get away with it. There are few good business men left they have been bought out buy the vultures.

[Betty]

7. how can this be called a recovery?

I guess actual people don't count.

[OhioChick]

8. No Jobs = No Recovery n/t

[lib2DaBone]

9. We need 30 Million NEW jobs just to be at full employment

They are all weasels, it's "Disneyland on the Potomac".

There CAN NEVER be a recovery as long as the banks refuse to lend to private business.

We bail them out.. they sit on the cash and give themselves BIG FAT BONUSES. Huh?