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Not HiringWatertown Daily Times
October 21, 2009
The job market is not bouncing back even though the economy is improving.
Although jobs are often slow to return after an economic recovery, many analysts are predicting high unemployment rates for the near future.
One economist, Mark Gertler of New York University, told the Wall Street Journal: "Given the uncertain outlook in the economy and credit conditions, firms are reluctant to hire. This is a very tough labor market. It looks like it's going to be a slow process."
The Journal notes two factors at play: One is that businesses are not confident the upturn will endure; they suspect recent increases in orders reflect their customers' need to bolster inventories. There is also a suspicion that stimulus spending is behind recent purchases rather than natural market activity.
http://www.watertowndailytimes.com/article/20091021/OPINION01/310219927
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