Get breaking news alerts via email

Click here to manage your alerts
U.S. jobless rate dips to 8.3% after hiring surge

Economy unexpectedly created 243,000 netjobs in January.

< Previous Page

Growth could slow later this year. Much of the fourth quarter’s expansion was due to companies ordering more goods to restock their warehouses. Restocking is likely to slow in the first three months of this year, and that would bring down growth.

Europe’s financial crisis could also slow demand for U.S. goods. And average wages failed to keep up with inflation last year. That leaves Americans with less spending power, which can hamper growth.

Join the Discussion
Post a Comment

But many analysts are optimistic. Jennifer Lee, an economist at BMO Capital Markets, said she expects the economy to expand at a 2.5 percent annual clip in the first quarter, up from an earlier estimate of 2 percent.

There is optimism among business leaders, too. Lanham Napier, CEO of Rackspace Hosting, a San Antonio company that hosts and maintains corporate websites, said his company hired about 650 people last year and plans to add roughly as many this year.

Napier said his company’s clients are spending about 10 percent more than a year ago because their businesses are picking up. When online retailers receive a crush of sales, for example, they pay Rackspace for more computer capacity.

"We’re making more money than we’ve ever made," Napier said. "We’re optimistic about 2012."

Copyright 2014 The Salt Lake Tribune. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

Top Reader Comments Read All Comments Post a Comment
Click here to read all comments   Click here to post a comment

About Reader Comments

Reader comments on sltrib.com are the opinions of the writer, not The Salt Lake Tribune. We will delete comments containing obscenities, personal attacks and inappropriate or offensive remarks. Flagrant or repeat violators will be banned. If you see an objectionable comment, please alert us by clicking the arrow on the upper right side of the comment and selecting "Flag comment as inappropriate". If you've recently registered with Disqus or aren't seeing your comments immediately, you may need to verify your email address. To do so, visit disqus.com/account.
See more about comments here.
Staying Connected
Contests and Promotions
  • Search Obituaries
  • Place an Obituary

  • Search Cars
  • Search Homes
  • Search Jobs
  • Search Marketplace
  • Search Legal Notices

  • Other Services
  • Advertise With Us
  • Subscribe to the Newspaper
  • Access your e-Edition
  • Frequently Asked Questions
  • Contact a newsroom staff member
  • Access the Trib Archives
  • Privacy Policy
  • Missing your paper? Need to place your paper on vacation hold? For this and any other subscription related needs, click here or call 801.204.6100.