Benefits November 19, 2001

Q1 Hiring to Remain Flat

November 19, 2001(PLANSPONSOR.com) - Those looking for a rebound in the job market in early 2002 will be disappointed - hiring activity is expected to remain at the levels associated with the recessions of the early eighties and nineties, a new survey finds.
Reported by

Manpower Inc.’s quarterly survey of 16,000 US businesses found that hiring levels will continue a decline that began early last year. In the first three months of 2002:

  • only 16% of firms plan to add jobs, compared to the 27% who planned to add jobs a year ago, and
  • some 16% anticipate cutting staff , in contrast to the 10% recorded a year ago

The remaining firms plan to maintain staffing levels or were uncertain about hiring activity

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The survey also revealed that in the first quarter of next year:

  • a little over one fifth of durable goods manufacturers plan to cut jobs, and
  • some 15% of other manufacturers anticipated cutbacks

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