Business Economists See Employment Recovery

Washington, DC, Jan. 24, 2011 -- Business economists say the pace of hiring should pick up this year as more firms said they planned to add workers this year.

The gap between those that plan to hire and those that plan to fire is the greatest in more than 10 years.

National Association for Business Economics said its latest survey finds that economists are more hopeful about overall economic growth, the job market and demand for companies' products and services than they have since the recession began.

The survey found that business decisions are now being driven by the fundamentals of an improving economy.

The number of economists who saw hiring by their firms increasing over the next six months was 42 percent, compared with 7 percent who expected to lay off workers. That difference of 35% was the highest in the 12 years that the question has been asked.

All major industry groups saw more demand for their products and services.

Only 6 percent expected their firms to cut back on capital spending.