NABE Survey: U.S. Hiring Improving (SPY)

The National Association for Business Economics said its latest survey, released Monday, found 31 percent of businesses added workers between April and June, the highest level in three years.

The Associated Press reports that "Economists say the U.S. recovery continued during the second quarter of this year with more businesses hiring workers and fewer cutting jobs, but the pace of growth has slowed."

The report notes that "39 percent of those surveyed say they expect to hire more workers over the next six months — the most since January 2008. Manufacturers reported the strongest increase in demand and profitability. Finance, insurance and real estate sectors saw the slowest growth."

"NABE's July 2010 Industry Survey confirms that the U.S. recovery continued through the second quarter, although at a slower pace than earlier in the year," William Strauss, of the Federal Reserve Bank of Chicago, said in a statement.

"Industry demand increased for a fourth consecutive quarter, although at a slower pace. Price and cost pressures were contained, allowing profits to edge higher. Credit and debt issues in Europe will likely negatively impact just over a third of the surveyed firms over the next three months."

The SPDR S&P 500 ETF (NYSE: SPY) is up 0.1% in mid-day trade.

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