Economists See Improving Employment Picture

Washington, DC, May 3, 2012 -- The unemployment rate is likely to fall below 8% by election day, according to an Associated Press survey of 32 economists.

The economists, AP said, are predicting a slowly improving jobs picture, despite higher fuel prices, financial problems in Europe and a lackluster housing market.

The economists believe that increased hiring will spur more consumer spending, which, in turn, should boost hiring further.