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In a report released Wednesday, the Federal Reserve survey found the U.S. economy to be growing at a “modest to moderate” pace, helped along by strong auto sales in December. The auto industry’s rebound has resulted in employment growth, reflected in jobs data on SellingCrossing.com
Pasadena, CA (PRWEB) January 20, 2013
The Federal Reserve survey released Wednesday indicated that the U.S. economy is growing at a “modest or moderate” pace, propelled by increased consumer spending and auto sales. Increased hiring in auto sector jobs on SellingCrossing.com confirms current economic trends.
The Federal Reserve survey, known as the Beige Book, reported on the state of the U.S. economy from mid-November through early January. The report found that the U.S. economy is growing at a “modest or moderate” pace. The Beige Book surveyed the economic conditions of twelve districts, including Boston, New York, Philadelphia, Cleveland, Richmond, Atlanta, Chicago, St. Louis, Minneapolis, Kansas City, Dallas, and San Francisco. In its report, the Federal Reserve found that consumer spending was up in all twelve districts, with holiday shopping and strong auto sales contributing to this. Auto sales were “steady to stronger” in ten of the districts. In particular, the Federal Reserve forecast strong sales numbers for new cars at Chicago auto dealers, citing optimal credit conditions, rising used car prices, and strong consumer demand.
The auto industry is on a slow, but steady recovery after its unprecedented collapse during the recession. Growing confidence in the future of the U.S. auto industry has been helped along by stronger-than-usual car sales in 2012, along with a rebounding housing market. For job seekers, growing auto sales are translating into job opportunities at many of the nation’s top automakers. Jobs are being created not just in the traditional, blue-collar, auto manufacturing areas, but in white-collar sectors like IT and engineering. This increased hiring signals confidence at the management level that the major auto companies expect industry growth to remain strong.
These positive hiring trends have been reflected in employment data on SellingCrossing.com, a top job site for sales jobs, including automotive sales jobs. Auto sector employment was strong in 2012 after several years of a shrinking job market. As of January 18, the site posted 525 auto sales jobs. Overall, there were 30,922 jobs in the automobile sector. Openings were across the spectrum, from technician positions on the manufacturing end, to manager and sales representative positions on the retail end.
Some commentators worry that the fiscal uncertainty still brewing in Washington casts doubt on the sustainability of the auto recovery. Yet if 2012’s auto sales are any indication, the auto industry has shown it will not be shaken, even in the face of ongoing talks regarding the debt ceiling. The December figures reported in the Federal Reserve report showed strong auto sales in spite of budget negotiations that were not settled until after the new year.
SellingCrossing.com is a job search site based in Pasadena, CA. It is a part of the Employment Research Institute and owned by A. Harrison Barnes.
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