Transcript for US Economy Growing: Companies Hiring?
There is news tonight that the US economy is on the move growing faster in the last quarter than it has in the past year and a half up two point 8%. Another sign the recession may be in the rearview... See More
There is news tonight that the US economy is on the move growing faster in the last quarter than it has in the past year and a half up two point 8%. Another sign the recession may be in the rearview mirror. But here is what matters most to every American household does this mean American companies. Are ready to start hiring again and force ABC's David here is here right now Davis. Diane great to see you in that is the central question we set out to answer to Nye popular today that new number encouraging growth. But how much growth is needed before the real hiring begins tonight we return to the factories we've been reporting on for more than a year now. But the reality. On the American assembly line. It is the fastest -- economic group in this country. Eighteen months it is the strongest number that we've seen -- -- for 2011. Year ended high point. Just tonight we learn Chrysler will announce next week its hiring more than 16100 new workers. At an Illinois assembly plant. Wilder said the jump start. What economists see a huge part of this car parts built in America -- usually come from overseas largely Japan. It natural disasters last year America picked up slap something we saw firsthand at the sport assembly line in Kansas City the last few hours -- Tennessee door. Chicago the question bill will that level of production continuing to this new year even as. And which covers the good news 34000 new manufacturing jobs were added to the economy in its last quarter consumers' increasing -- spending by 2%. The president in an exclusive interview with Diane saying those numbers only -- to the gains already meet -- that -- now in a position where we're starting to come back. We created three million jobs over the last point two months -- today's putted -- reality check on the ground. -- cutting -- the added that the reaching out to nearly half dozen factories we visited this past year on the hunt for jobs in America -- the nordic -- plant in Minneapolis Minnesota because the cookware. Compared to that you GDP number tonight they're up triple that. And flood maker of the shop in Ohio also growing faster than that GDP number. -- 500000 more flags year over year. But the real question tonight when -- they all start hiring -- maps that economists say is the real -- -- the country even with this -- Companies are making larger profits but they are still reluctant to pull the trigger on major hiring. Until they're convinced that this growth seen today will continue. -- -- -- We've had a phenomenal recovery profits firms have been reluctant they've been holding on to their cash rather than going out and hiring up. And so that is the pearl tonight growth like we haven't seen in a year and a half but still economists businesses want more growth faster growth. To be convinced that they should start spending the profits they're sitting on. I'm hiring new workers in this and how much more growth trend line at two point 8% today they want GDP up 45%. If you'll receive hundreds of thousands of new jobs the -- ago.
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