Jobs report could show signs of modest growth

Jobs report could show signs of modest growth
Friday, September 2, 2011 - 1:21am

Economists are expecting to hear better news when the government releases the latest unemployment numbers later today.

Analysts surveyed by Factset believe the economy added 93,000 jobs in August. That's down from 117,000 new jobs in July.

They forecast an unchanged unemployment rate of 9.1 percent.

The new figures would show that businesses likely shrugged off recession fears and kept hiring last month, but not nearly enough to lower the unemployment rate.

The jobless rate has been above 9 percent in all but two months since May 2009. The economy would need to add about 250,000 jobs each month to rapidly bring down the unemployment rate.

Weak growth, a downgrade of long-term U.S. debt and a sell-off on Wall Street likely has kept some businesses from hiring.

Analysts also say last month's two-week strike by 45,000 Verizon employees also affected job totals.

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