"We haven't hit the cliff yet, but the downdrafts are already occurring," Riccadonna said.Measures of hiring fell in two surveys released this week by the Institute for Supply Management, a private trade group of purchasing managers. Some companies in the service sector told the ISM that economic uncertainty was delaying hiring.
US Hiring Last Month Was Likely Held Back By Sandy
Check Out Our Best Services for Investors
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Model portfolio
- Stocks trading below $10
- Intraday trade alerts