With stocks on the rise and gaining since March, and bright spots that make recovery seem even more attainable, consumer confidence remains about the same – leaving companies to follow suit, acting prudently and wary of hiring.
In October, 29 states reported a rise in the unemployment rate, and another 13 are above the national rate.
This creates a catch-22, as many believe consumer confidence in the economy will not go up until unemployment goes down. However, many companies will not be confident hiring until spending – which is fueled by consumer confidence – goes up first.
Source:
CNN.com:Brighter Signs in the Economy Haven’t Boosted Confidence or Hiring
