WASHINGTON, Nov. 23 (UPI) -- The president of the National Association of Business Economists said the "jobless" U.S. recovery should start adding jobs by the second quarter of 2010.
"While the recovery has been jobless so far, that should soon change. Within the next few months, companies should be adding instead of cutting jobs," NABE President Lynn Reaser told The Wall Street Journal.
In a survey of business economists taken Oct. 24-Nov. 5, respondents indicated gains in stock markets and business investments should push a recovery in jobs by April next year, the Journal reported Monday.
The country has lost more than 7.3 million jobs since the recession took hold in December 2007, which gives a job recovery a long way to go. A full recovery in the labor market was not expected until 2012, a majority of economists said.
Lawmakers in Washington are contemplating the next move to counter the unemployment rate, which rose to 10.2 percent in October.
"There is no discussion of a package like a second stimulus, but we are working closely with Congress and consulting with outside experts to determine the right policies and the right steps," White House deputy press secretary Jennifer Psaki said.
