The quarterly survey of nearly 16,000 companies found that 59% of employers isn’t planning any changes, while 8% expects to cut staff and 5% aren’t sure. A year ago, 32% was planning increases in what was the highest Q2 expectations since 1978.
Expectations for a slowdown were evidenced across all industries and regions, but durable goods manufacturing and wholesale and retail trades look to be the hardest hit.
Manufacturers of durable goods reported 30% with plans to increase hiring, but 12% planning to cut staff. And while the survey found that 28% of wholesale/retail trades expected to hire more, 10% were anticipating cuts.