New Jobs Market Boost – Morning Business Memo

Apr 5, 2012 7:54am

The jobs market really is getting better, according to two new private surveys. CareerBuilder’s quarterly report says more employers are planning to add to add to their workforce. “Thirty percent of employers we spoke to say they plan to hire full time positions in the second quarter,” says Michael Erwin of CareerBuilder. This compares with 24 percent in the last survey three months ago. “The numbers are going back to where they were pre-recession so that’s good news — employers are back to the table they’re looking to hire.”

Polling by Gallup finds job market conditions in March reached their best level since August 2008. Gallup’s Job Creation Index now at +18, up from +14 in February. The Labor Department’s monthly employment report will be released tomorrow.

The rush to the burbs is over. New census numbers from last summer highlight a shift in population trends following an extended housing bust and renewed spike in oil prices. Outlying suburbs have seen their growth fizzle to historic lows as more people stay put in big cities. “The heyday of exurbs may well be behind us,” says housing expert Robert Shiller of Yale University. The annual rate of growth in American cities and surrounding urban areas has now surpassed that of exurbs for the first time in at least 20 years.

Stock market futures dropped this morning for the third straight day. The declines appear to be caused by worries about plans by the Federal Reserve to end support for financial markets. Recent bond buying drove down bond yields and helped give a lift to stocks. European and Asian stock markets are lower again this morning. The Dow Jones industrial index fell 125 points yesterday after a losing session on Tuesday. The price of gold plunged to its lowest level since January. That’s also linked to the Fed. If it stops quantitative easing fewer investors worry about inflation. Gold is an inflation hedge.

Satellite provider DirecTV and Tribune Broadcasting have reached a five-year deal. WGN America and some other Tribune channels were blacked out during the brief dispute.

Richard Davies Business Correspondent ABC NEWS Radio twitter.com/daviesabc

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