Benefits September 8, 2009

Q409 Hiring Looks Sluggish

September 8, 2009 (PLANSPONSOR.com) - The nation's economy may be showing signs of recovery, but don't look for a fourth-quarter hiring frenzy, Manpower Inc. says.
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A Manpower news release about its latest job poll of more than 28,000 employers found 69% who do not foresee any headcount change during the October to December period. Twelve percent said they expect to bring on staff and 14% expect a decrease in payrolls, resulting in a Net Employment Outlook of -2%.

After seasonal adjustment, the Net Employment Outlook becomes -3%, the weakest in the history of the survey, which began in 1962, Manpower said.

“The hiring intentions of U.S. companies continue to be sluggish,” said Manpower Inc. Chairman and CEO Jeff Joerres, in the news release. “While there are areas within the U.S. which are showing an uptick, we have yet to see the robust hiring intentions that would indicate a full labor market recovery.”

The national survey data shows employers in the

  • Mining, Information, Financial Activities and Other Services industry sectors expect hiring to remain relatively stable in the fourth quarter of 2009 when compared to the third quarter of 2009.
  • Durable and Non-Durable Goods Manufacturing, Wholesale & Retail Trade and Government sectors anticipate a slight decrease in hiring levels.
  • Transportation & Utilities and Professional & Business Services predict a moderate decrease, while those in the Construction and Leisure & Hospitality sectors indicate considerably weaker hiring plans when compared to the third quarter of 2009
  • Education & Health Services employers anticipate a modest increase in hiring activity for the fourth quarter of 2009.

All of the survey regions have considerably weaker employment outlooks compared to one year ago, according to the announcement. In comparison to the third quarter, the seasonally adjusted data reveals the Northeast has the weakest outlook, the West and Midwest are relatively stable, and the South shows a slight increase in employer optimism.

The poll's United States results are based on interviews with more than 28,000 employers located within 200 Metropolitan Statistical Areas (MSAs), as defined by the federal government, and one MSA in Puerto Rico.

More details are available at http://www.us.manpower.com/meos .

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