Should Y!A hire new moderators?

Yahoo doesn't use paid, hired, moderators. It is a system of Community Moderation.

Community moderation

At Yahoo Answers, we rely on the honor system to reward and empower reliable Answers contributors.

 Community Members who consistently and honestly identify and report questions and answers have more influence than others. If more than one of you reports the same question or answer, it will be removed. 
See our article on reporting abuse to learn more about alerting us to inappropriate content.
Reported, but wasn't immediately removed?
The system is new and in Beta, so not all questions and answers are moderated by the community.
Right now, some reports go to our customer care team for review as the two systems are working in parallel until we feel comfortable enough to make it 100% community-moderated.
Don't worry! Just because the question or answer you reported wasn't removed right away doesn't mean you're not trusted. Trust scores are always in flux, so you're not either "trusted" or "not trusted"--they're not mutually exclusive.
Metrics (including your trust score, the trust score of others who may have reported it, and the trust score of the poster) determine whether or not a question or answer is removed right away.
It also depends on whether the report goes to the customer care team or the community moderation system.

the YA community is self moderating which is currently either broken or not working properly

Hiring new moderator indicates they have ones now, which they don't. You and I are the moderators, along with all other users

They never had moderators only members who reported questions. Why would Yahoo hire anyone when they are trying to sell this site and get rid of it. It just don't make sense. It some of the current users that are inefficient here.

Yes - get the system cleaned up, please.

They let yahoo level 7 users run the show, which is stupid.

They need to put REPUTABLE mods on here who are already using Y/A.