Consumers Anxious About Lack of Hiring

[Nambe]

NEW YORK (Reuters)

U.S. consumer confidence sank in August while Chicago-area business activity slowed, according to reports on Tuesday that added to worries the economy's patch of sluggish growth may last beyond the summer.

"A re-acceleration in hiring is needed to bolster consumer attitudes about the economy. More jobs will also generate faster income growth that will support consumer spending," said Steven Wood, chief economist at Insight Economics in Danville, California. "A lot is riding on companies hiring more workers."

Consumer hopes soured on both the current state of the economy and the outlook, with the present situation index sliding to 100.7 in August from 106.4 the prior month. The expectations index also fell sharply, to 96.6 from 105.3.

A separate report showed growth at Midwest businesses easing in August, with the National Association of Purchasing Management- Chicago's index falling to 57.3 in August from 64.7, deeper than the retreat to 60.8 economists had forecast. ..


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[childslibrarian]

1. You think?

The one thing Bush can't fudge. The economy.

[ozone_man]

2. They've tried.

Rock bottom interest rates, massive deficit spending, war. But there are only so many fingers to plug the holes in the dike and the holes are getting bigger. Time to seek shelter from the impending flood I think.

[childslibrarian]

3. You said it

So true.

[DBoon]

8. You can't push a string

As Keynes said about interest rate reduction as a way to fight the great depression of the 1930's

[camero]

4. Is it any wonder?

All increases in consumer spending during *'s term have been met with more outsourcing. Why spend money when they only make more jobs in India? Consumers are coming to that conclusion.

[2Design]

5. Boy you have said a mouthful....why support corporations who

are sending the jobs to other people

[Catfight]

6. 2004 Bush Job posting: Looking for employee with little thought

process, needs to be willing to work long laborious hours for seven dollars an hour and no overtime pay, but overtime required. Needs to deliver goods but no company gas card will be offered, if gas prices rise you will not be compensated in any way, but you'll have a job. You will be reminded daily how replaceable you are and how quickly we can ship your job overseas you ungrateful idiot. Your pay will be frozen until the air we breath becomes clean again. When you go through a divorce because we took so much precious time away from your family, we will not allow for days off to grieve that loss. We will blame you for not raising kids in a two sex family, but we will not help you provide for that kid. Do not expect bonuses, and do not speak about our Executives getting paid eight times more than you. You will accept that they are more important than you because we say so, and therefore, they deserve more pay. When it's time for a draft, we will gladly let you go to fill your position with another desperate worker. Thank you for giving up a small portion of your life to make us richer.

[leesa]

7. OK. They just told us a couple days ago it was way up. Flip flop.