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 Camilla Klein
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
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