Jobs Market Is Stuck in Neutral: Gallup

FOXBusiness

While the nation awaits a vital reading on the employment situation, due out Friday, another barometer of the jobs scene isn't offering much optimism.

Job creation remained flat for the third straight month in July, according to Gallups Job Creation Index, released Tuesday. The index, which is based on random daily surveys of more than 500 employees nationwide, showed July numbers remain above 2009 and 2010 levels, but are nearly half of 2008 rates.

Continue Reading Below

About 18% of workers in July said their employers are letting people go, while 30% report their employers are adding new workers. Hiring and firing expectations have moved within a thin margin since the beginning of the year, reflecting employers' skepticism over future business growth.

Poor jobless claim reports from the government, paired with unexpectedly low GDP numbers and Mondays weaker-than-expected ISM report have provided little reason for employers to show confidence going into the second half of the year.

The Midwest scored the highest of all other regions for job creations in July, up 3 points from the months index average.

What do you think?

Click the button below to comment on this article.