But GDP won't grow as much as predicted earlier this year
In the third quarter of 2010, hiring in the United States reached its highest level since the start of the 2008-2009 recession, according to a survey of economists.
The October survey of 74 members of the National Association of Business Economics also found hiring expectations for the next six months rose to the highest levels since 2006.
Industry demand, corporate profits, business costs and capital spending all strengthened in the third quarter from the second quarter and last year, found the survey.
The survey "confirms that the U.S. recovery from the Great Recession continues, with business conditions improving," said William Strauss, an economist at Federal Reserve Bank of Chicago, in a statement.
However, the job market will still be under pressure into next year with economists forecasting the unemployment rate will rise to 9.7 per cent in 2010 (currently at 9.6 per cent) and then fall to 9.2 per cent by the end of 2011.
Also, about one-half of respondents are expecting gross domestic product (GDP) to expand by just two per cent this year. This is much lower than the 67-per-cent growth predicted in the July survey.
