Summary Box: Job gains may offset pricier gas

AP News
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Posted: May 12, 2011 5:38 PM
Summary Box: Job gains may offset pricier gas

JOBS OUTWEIGH INFLATION: Rapid hiring by private companies should offset higher gas and food prices, setting up the economy for better growth in the second half of this year.

PRICE PRESSURES EASE: Economists say the drag from higher inflation is temporary. Oil and other commodities have fallen in price in recent days, and gas is likely to follow. That should give consumers more money to spend and companies more confidence to hire.

STEADY HIRING AHEAD: Employers are expected to keep adding jobs at a pace of roughly 200,000 a month. That should slowly reduce unemployment.