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Manpower survey - No further U.S. deterioration

June 09, 2009

U.S. employers will continue to be cautious in the third quarter, with hiring expectations similar to the second quarter, according to the employment outlook survey released today by Manpower Inc. (NYSE: MAN). However, hiring expectations remain down considerably year-over-year.

"When we account for ongoing calibration of the data, employer attitudes about hiring remain essentially unchanged compared to the previous quarter," said Manpower Chairman and CEO Jeffrey Joerres. "While the numbers may not be as optimistic as we would like, it is positive to see no further deterioration."

The survey found that 15% of the more than 28,000 U.S. employers surveyed plan to increase hiring in the third quarter, 13% planned to cut staff and 67% didn't anticipate making changes. On a seasonally-adjusted basis, this implied a net employment outlook of -2%.

In comparison, the seasonally adjusted net employment outlook for the second quarter was also -2%. However, it was 12% for the third quarter of last year.

The leisure and hospitality industry had the highest net employment outlook for the third quarter at 18%. Mining had the lowest at -9%.

For Canada, the seasonally adjusted net employment outlook for the third quarter was -3%, down from 1% in the second quarter. Manpower surveyed 1,900 Canadian employers.