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Gas prices could slow job growth this year
Posted: 05.06.2011 at 6:33 AM
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WASHINGTON (AP) -- A brightened outlook for job growth may dim this spring as rising gas prices weigh on companies and prompt some to rethink their hiring plans.

Analysts forecast that the economy added 185,000 jobs in April and that the unemployment rate remained at a two-year low of 8.8 percent. That would be down from the 216,000 jobs added in March but still solid.

Still, just a few weeks ago economists were confident that private companies would add more than 200,000 jobs for the third straight month. Some now worry that the job figures could be weaker than expected, based on the most recent economic data.

Average gas prices have risen for 44 straight days. Consumers are spending more to fill the tanks, leaving them with less to spend elsewhere. As a result, many companies are feeling less certain about the economy's health.

(Copyright ©2011 by The Associated Press. All Rights Reserved.)

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