NEW YORK (Reuters) - Any U.S. job market recovery is at least several months away, staffing industry executives say, citing comments from customers, weak consumer spending and evidence in the December jobs report that employers are cutting hours and overtime. The economy shed 524,000 jobs outside the farm sector last month, fewer than expected, and the unemployment rate jumped to 7.2 percent, the highest since January 1993. Job losses in October and November were bigger than initially estimated.
NEW YORK (Reuters) - Any U.S. job market recovery is at least several months away, staffing industry executives say, citing comments from customers, weak consumer spending and evidence in the December jobs report that employers are cutting hours and overtime.
The economy shed 524,000 jobs outside the farm sector last month, fewer than expected, and the unemployment rate jumped to 7.2 percent, the highest since January 1993. Job losses in October and November were bigger than initially estimated.
