Fed: Recovery spreads but doesn’t spur hiring

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WASHINGTON (AP) — The economic recovery is spreading to more parts of the country but has yet to spur companies to ramp up hiring.

A new Federal Reserve survey underscores the duality of the economic turnaround: even as the economy grows and the recovery extends its reach geographically, more than 15 million people remain unemployed.

The Fed says that although “economic activity remains at a low level, conditions have improved modestly further.” However, the Fed also notes that “labor market conditions remained soft” in most of the Fed’s 12 regions as the new year started.

Tags : economy economy business united states
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