bruce kasman says firms are simply too nervous about the future. >> there is a shift that has taken place. the hope is, and our forecast is, we grind towards a better outcome. but there is nothing decisive in this report about where we're heading next. >> reporter: while the economy grinds forward, expect companies to squeeze more out of current staff, rather than add new workers. and average hourly pay grew in july. but even if the economy continues to muddle along, most experts say companies will soon need more workers. j.p. morgan's kasman predicts the economy will add only 100,000 new jobs per month to payrolls through the end of this year. john riding thinks we'll do a little better, perhaps tacking on 150,000 a month, once employers cannot longer expand the work week for the existing employees. >> the economy needs to create 300,000 jobs to get the unemployment rate back down to 5%. >> reporter: riding expects the unemployment rate to be above 8% by the end of next year. he says americans will need to get used to a nation that could no longer offer full ployment. >> i think that pic