The latest survey of economists has shown that uneven economic recovery in the U.S. is facing the biggest threat from the potential for a persistently sluggish rate of hiring, according to The Wall Street Journal. On Monday, the results a poll of 54 economists conducted by The Wall Street Journal showed that the U.S. economy is expected to add 2.2 million jobs over the next 12 months, which is down from 2.5 million forecast last month and marks the first decline in expectations since October. The survey projects that the unemployment rate would be 8.2% in June 2012 and down to 7.9% by the end of next year.
The group saw a double-dip recession was unlikely at only 16%, but of the 49 economists that answered the question, 21 said that the biggest risk to the economic recovery was slowing hiring. Meanwhile, Jeff Immelt, the Chief Executive Officer of General Electric and the head of the government’s jobs panel, said that construction projects should be pushed forward in order to spur hiring, adds Reuters. Additionally, the group pointed to the need for boosting training for manufacturing jobs at community colleges, as well as improving the visa process to strengthen tourism in order to bolster job creation.
Click here to read the story on hiring from The Wall Street Journal.
Click here for coverage of the jobs panel report from Reuters.