Manpower Employment Outlook Survey Projects a Weak Hiring Pace for Q4 2009

"U.S. employers plan to keep their staffing levels relatively stable during Quarter 4 2009, according to the seasonally adjusted results of the latest Manpower Employment Outlook Survey, conducted quarterly by Manpower Inc.

"The hiring intentions of U.S. companies continue to be sluggish," said Manpower Inc. Chairman and CEO Jeff Joerres. "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."

Of the more than 28,000 employers surveyed, a significant 69% expect no change in their October - December hiring plans. Twelve percent anticipate an increase in staff levels, while 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. The final 5% of employers indicated they were undecided about their hiring intentions.

"Despite some moderating signs, such as the considerable number of employers that plan to maintain or increase staff levels, there will continue to be challenges for both job seekers and employers in the coming months," said Jonas Prising, Manpower president of the Americas. "Hiring in the Wholesale & Retail Trade sector, for instance, is expected to be down in the fourth quarter, suggesting that employers will not be adding the quantity of holiday hires they have in the past.""

Source: Manpower

Fewer planning to add in the 4Q 2009

"The Manpower Employment Outlook Survey released Tuesday shows 8 percent of surveyed employers in the area plan to hire workers from October to December, while 9 percent are planning to cut employees. Three-quarters of all surveyed employers aren’t planning any change for staffing levels, while 8 percent said they’re uncertain of hiring plans.

The nationwide outlook for the fourth quarter found more employers planning to take action, though more are eyeing cuts than additions. Manpower’s national survey of more than 28,000 employers found 12 percent plan to hire, 14 percent plan to cut and 69 percent don’t plan any changes.

Manpower noted that while the majority of employers plans to hold staffing levels steady or add workers, the employment outlook for the fourth quarter was weaker for all regions of the U.S. compared with last year. The outlook for the Midwest, compared with other regions, was stable, the Milwaukee-based firm said."

Source: Business First

As I have continued to point out that growth in hiring continues to be weak. Moving along the bottom does not mean growth. It'll be interesting to see if the stimulus will lead to job growth or not. Without a temporary pop in the growth of jobs, another recession maybe coming.

Manpower 3Q Employment Outlook Survey

Manpower has their employment outlook survey up for the 3rd Quarter.

- Some strengths at a mostly low destiny workforce.
- Still a large number of industrial nations facing challenging workforce hires going forward.
- In addition to problems associated with that tepid hiring and continued weak consumer demand it is hard to be overly bullish on employment in general.

Most of the charts show that expectations of growth has not resumed to growth for most nations besides India, Taiwan and Singapore.

There will continue to be a push for more stimulus for the worldwide economies. However, during the last down turn there was a four year period before "full employment" resumed. I still find it hard to believe that all the toxic assets and moderating consumer spending, and corporate credit has returned to normalise. Especially, when terms of loans have been fairly brutal such as the recent terms with CIT.

Source: http://files.shareholder.com/downloads/MAN/661768214x0x300275/0b0e1150-1f3e-40df-a7eb-f6f09c6c47fa/Global_USLetter_Q309.pdf