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Politics : Sioux Nation -- Ignore unavailable to you. Want to Upgrade?

To: tejek who wrote (181758)	12/4/2009 8:09:47 PM
From: stockman_scott	Read Replies (2) \| Respond to of 361973

Job Drought in U.S. Almost Over as Temporary Help & Hours Surge By Bob Willis and Shobhana Chandra Dec. 4 (Bloomberg) -- The worst U.S. employment slump in the post-World War II era may be about to end as companies hasten to hire temporary workers and boost hours, according to economists such as John Ryding and Zach Pandl. Employers took on 52,000 new temporary workers in November, the largest increase since October 2004 and the fourth consecutive gain, the Labor Department said today. The average workweek climbed by 12 minutes, the most since March 2003. “It is beginning to look like December could be the first month to show a positive payroll print,” Ryding, chief economist at RDQ Economics LLC in New York, said in a telephone interview. “Companies are running out of labor.” Jumps in temporary help and working hours often presage the addition of permanent, full-time staff as companies grow more confident sales will be sustained. Job growth would help lift consumer spending, the biggest part of the economy, and aid the recovery from the worst recession since the 1930s. Total payrolls last month dropped by 11,000, the smallest decline since the recession began in December 2007. That was less than the 125,000 job losses anticipated, according to the median forecast of economists surveyed by Bloomberg News. The number of jobs lost since the recession began actually fell to 7.2 million after the government revised October and September figures to show 159,000 fewer losses than previously estimated. Unexpected Drop The unemployment rate unexpectedly fell to 10 percent from 10.2 percent in October, which was the highest in 26 years. Pandl, an economist at Nomura Securities International Inc. in New York, said the first gain in payrolls may come this month, beating his previous forecast of January. “We’re at the turning point here,” Pandl said. “Firing activity is tapering off fast.” Tig Gilliam, chief executive officer of Adecco Group North America, a New York-based unit of the largest temporary employer in the world, said his company began seeing a big pickup in demand for temporary help in recent months. “When the economy slows, temporary are the first to go, and when the economy begins to recover, they are the first to come back,” Gilliam said. “We’re turning the other end of the cycle right now.” To contact the reporter on this story: Bob Willis in Washington at bwillis@bloomberg.netShobhana Chandra in Washington schandra1@bloomberg.net Last Updated: December 4, 2009 14:00 EST