Economic Update: Where are the Jobs?
By: RW Special Reports

GDP growth is soaring. Interest rates are at record lows. The government is pulling out all the stops on fiscal and monetary stimulus. Markets are active and orders are up. To most, these are the signs of a bona fide economic boom. Still, one critical element is missing: jobs. Though we've seen some job growth in recent months, job creation rates are well below those forecasted by economists. In this article, we look at factors contributing to slow job growth. We examine overseas outsourcing as well as corporate America's changing appetite for hiring.

Lately, job creation has been mixed to say the least. According to the Bureau of Labor Statistics, the economy created 308,000 new jobs in March 2004, but a mere 21,000 new jobs in February 2004. In order to fulfill the economic goals outlined by the President, the US economy needs to add at least 300,000 new jobs a month to reach full recovery by the end of the year. A recent slew of corporate surveys show that though the nation's business leaders are optimistic about the economy's prospects, they're hesitant to ink job orders. According to a recent report by The Wall Street Journal, companies are loath to hire "on speculation" alone. Prudence and caution are governing budgets, slowing job creation.

Read the full article on US Job growth:
http://www.RecruitersWorld.com/articles/rw/special/economy.asp

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