US Job Growth Likely Only Up Slightly as With Election Environment reports FreeResumeBuilder.org

Americans Await Employment Report as Election Approaches

San Francisco, CA (prHWY.com) November 10, 2012 - San Francisco, CA- It is likely that United States job growth increased in October, but not enough to affect next week's presidential election.

The official U.S. Labor Department employment report, due to be released four days ahead of the election, is not expected to differ much from the last report.

A Reuters survey of economists indicates most experts expect employers to have added 125,000 jobs to their payrolls in October, up from 114,000 the previous month. They predict the unemployment rate will increase one-tenth of a percentage point to 7.9% after a 0.3% point slide in September.

"Most people have an impression of the economy and their minds won't be changed at this late stage. Only a dramatic headline on either number in either direction might move the dial a bit more," said Harry Holzer, a public policy professor at Georgetown University in Washington.

The latest Reuters/Ipsos daily tracking poll shows the race between President Barack Obama and challenger Mitt Romney tied less than a week before the election.

After a brief increase during the first two months of the year, job growth has stalled.

"Consumers are spending, but businesses are cautious about hiring because there is a lot of uncertainty related to the election, the fiscal cliff and regulations," said Sung Won Sohn, an economics professor at California State University Channel Islands in Camarillo, California.

While the economy has created more than 4 million jobs since the recession of 2007-2009, employment hovers at about 4.5 million fewer jobs than it had prior to the economic collapse.

Economists expect any increase in the employment rate to be offset by an increase in the number of Americans entering the workforce to look for jobs.

Looking at the upcoming employment report in more detail, manufacturing employment is expected to rebound after slipping for two months in a row, while government jobs are expected to fall after three consecutive months of gains.

Temp jobs, which often lead to permanent hiring, should increase as businesses prepare for the holiday shopping season.

Construction jobs are expected to continue growing as they have for four months as a result of more homebuilding.

Average hourly earnings are expected to increase a mere 0.2 percent, while the average work week is expected to hold at 34.5 hours.

"This indicates that economic growth is pretty minimal and modest," said Sohn.

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