Geithner Says U.S. Employers `Very Cautious,' Job Growth Not Fast Enough

[The Northerner]

Treasury Secretary Timothy F. Geithner said U.S. companies scarred by the financial crisis remain “very cautious” and are trying to get more productivity from current employees before hiring new ones.

Job growth is “not as fast as we need,” Geithner said in an interview broadcast today on NBC’s “Meet the Press” program. Employers “are still cautious, still very cautious,” he said. “So they’ve been trying to get as much productivity out of their employees as possible.”

Geithner also said, in a separate interview on ABC’s “This Week” program, that allowing tax cuts for the wealthiest Americans to lapse at the end of this year wouldn’t hurt economic growth.

The U.S. economy lost 125,000 jobs in June while adding 83,000 private-sector positions, fewer than forecast. While the unemployment rate fell to 9.5 percent from 9.7 percent, it has exceeded 9 percent since May 2009.

On NBC, Geithner said he doesn’t think the U.S. will suffer a so-called double-dip recession. “The most likely thing is you see an economy that gradually strengthens over the next year or two,” he said.

Read more: http://www.bloomberg.com/news/2010-07-25/geithner-says-u-s-employers-very-cautious-job-growth-not-fast-enough.html

[Donnachaidh]

1. more productivity from current employees before hiring new ones.

The newest form of slavery.

Welcome to the 21st Century Feudal lifestyle, brought to you by Timmeh and his *friends* in the elitist circle.

[earth mom]

2. Geithner is an asshole. Simple as that.

:puke:

[Cleita]

3. Trickle down economics just like he learned at

Reagan's knee. He needs to be gone.

[Vinca]

4. Companies are still outsourcing jobs. Why isn't that an issue?

As long as the government rubber stamps the hiring of dollar a day child labor in a foreign country, no employer is going to pay a decent wage to an American worker.

[earthboundmisfit]

6. +10000

You are right f*cking on.

[CrownPrinceBandar]

5. "They’ve been trying to get as much productivity out of their employees as possible"...

OK. So its even obvious to the Feds that private enterprise isn't going to be hiring anytime soon. Isn't this the best indicator that the government needs to start providing projects that get people working? Crumbling infrastructure + High unemployment, umm... WPA, anyone?