Length Of Work Week Goes Flat. Employers Less Likely To Hire

Source: Bureau of Labor Statistics

Flat for the second month and barely up from a record low.

After falling to a record low in June, the length of the average work week stayed flat in August for the second straight month, the Bureau of Labor Statistics reports.

The average hit 33.1 hours per week last month, a nubbin over the historic trough of 33 in June. The figure comes as part of the overall report on unemployment, which shows the jobless rate climbing to 9.7 percent, a 26-year high.

Employers are less likely to hire new people until the ones they've got are fully occupied. Despite the increase in the jobless rate, the labor market appears to be leveling out. The average job hunt took slightly less time in August, dropping to 24.9 weeks from 25.1. Last quarter, productivity took the biggest jump since 2003 — meaning that workers had plenty to do. Employers cut 216,000 jobs, the fewest in a year.

Together, the flattening of the average workweek, the rise in productivity and the drop in layoffs suggest that the pace of decline is slowing. Employers are starting to get their situations back in balance, but they're not likely to start hiring anytime soon.