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Yet the auto industry is enjoying a rebound. From January through June, U.S. auto sales ran at an annual rate of 14.3 million, far better than last year's 12.8 million. Many analysts predict 15 million sales next year. Much of the increase comes from pent-up demand. The average age of a vehicle on U.S. roads is nearing 11 years. Many are wearing out and need to be replaced. The higher auto production also has ripple effects: Many parts companies have had to add workers to keep up with demand. Chrysler's first-half sales are up more than 30 percent over the same period a year ago. Ford's sales rose nearly 7 percent in the first half of 2012. It cut in half the usual two-week shutdowns at six assembly plants and seven engine and parts plants, all so it could make 40,000 more vehicles this year. Most other areas of the U.S. economy aren't faring as well. That's why some analysts think applications for unemployment aid could rise in coming weeks, once the Labor Department's seasonal adjustments no longer include the summer auto shutdowns. Most economists don't foresee a strong increase in hiring coming soon. "We have been disappointed for the past three months, and I will believe that payroll gains have improved up when I see it," said Joel Naroff, chief economist at Naroff Economic Advisors.
[Associated
Press;
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