Upturn in service firms' hiring eases fears of a job-market downturn

08/4/2010 | Bloomberg · WebCPA

The U.S. labor market is at a reduced risk of slipping into another downturn, with companies in the service industry adding employees at a faster rate than expected, economists said. Nonmanufacturing businesses, which account for 90% of the economy, expanded and increased hiring in July, according to the Institute for Supply Management. The institute's index moved up from 53.8 in June to 54.3 in July.

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Bloomberg · WebCPA

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