Economists, CEOs, unemployed comment on job market

AP News
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Posted: Sep 02, 2011 5:06 PM
Economists, CEOs, unemployed comment on job market

Employers stopped adding jobs in August, fueling fears that the economy is at risk of another recession. Total payrolls were unchanged, the worst showing since September 2010. The unemployment was unchanged at 9.1 percent.

Here is how some economists, corporate executives and unemployed people reacted to the report:

"Labor Day is supposed to be a celebration. This report was more like an obituary." -- Sean Snaith, an economist at University of Central Florida

"The broad message is that even if the U.S. economy doesn't start to contract again, any expansion is going to be very, very modest and fall well short of what would be needed to drive the still-elevated unemployment rate lower." -- Paul Ashworth, economist, Capital Economics

"I would go back to the consumer. It's all about the consumer. The businesses are here to serve the consumer." -- Alan Mulally, chief executive of Ford Motor Co., said, noting that businesses will step up hire once consumers start spending more.

"It means more internships, and settling for that. ... It just makes it hard to keep the motivation going." -- Kristen Riordan, 23, who graduated from college last year and is earning $8 an hour working in a part-time internship.

"We hadn't expected much from the August employment report, and we got even less. ... The extreme uncertainty over the outcome of the debt-ceiling debate probably did extra damage to the August figures." -- Nigel Gault, economist, IHS Global Insight

"Our objective would be to add jobs, but it's going to take more packages to ship. Our work force will move with volume. If you're not growing at all, you're not adding jobs." -- Scott David, CEO, UPS

"Once businesses realize they can get the same amount of work out of the same people ... they're not going to really be hiring the way they did before." -- Keri Crump, 36, who lost her executive assistant in New York job a year ago and has worked only temporary jobs since then.