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Employers in U.S. Plan to Boost Payrolls, Manpower Survey Shows |
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Wednesday, 09 December 2009 |
 Employers in the U.S. plan to increase payrolls next quarter for the first time in a year as confidence in the economic recovery grows, a private survey showed yesterday. Manpower Inc.,
the world’s second-largest provider of temporary workers, said its
gauge of employment for January through March rose to 6 from minus 2
for the final three months of this year.
“Companies are seeing some demand so they don’t want to let anyone else
go,” Jeffrey Joerres, chief executive officer of Milwaukee-based
Manpower, said in an interview. “They anticipate a slow but positive
2010.”
The report adds to evidence the worst employment slump in the
post-World War II era may be coming to an end. Labor Department figures
last week showed payrolls dropped by 11,000 in November, the smallest
decline since the recession began in 2007, while the unemployment rate
fell from a 26-year high.
The Manpower index improved as companies shifted from projecting
additional staff cuts to no change. Seventy-three percent of employers
surveyed said they anticipated staff levels will be stable in the first
quarter, the highest level since the group’s records began in 1972.
Twelve percent expected to expand payrolls, the same as in the fourth
quarter, and 12 percent projected a drop.
“The uncertainty and lack of visibility is holding back any type of
real optimism in the labor market,” Joerres said. “It’s starting to get
better, but only slightly better.”
Year Ago
Manpower’s index subtracts the percentage of employers planning to cut
jobs from those who plan to hire, and adjusts the results for seasonal
variations. On that basis, the net employment outlook was down from a
reading of 9 for the first quarter of 2009, the last positive value.
The world’s largest economy has lost 7.2 million jobs since the
economic slump started in December 2007. The Labor Department’s report
last week showed the unemployment rate last month fell to 10 percent
from 10.2 percent in October.
Seven of 10 industries surveyed, including retailers and business
services such as accounting and temporary-help agencies, anticipated an
increase in first-quarter hiring compared with the prior three months.
Construction and transportation companies were among the five
industries that projected a drop in employment, while the information
industry predicted no change.
Jobs in South
Employers in the South predicted the strongest hiring prospects for
next quarter, followed by the Midwest. The Northeast and West also
showed gains.
Manpower interviewed more than 28,000 employers in the U.S.
The employment outlook is also steadying worldwide, the survey showed.
Employers in 17 of 35 countries and territories surveyed said they
planned to take one staff, led by those in emerging markets such as
India and Brazil. Job prospects were also favorable in China,
Singapore, Taiwan, and Australia. Hiring plans were weakest among more
developed economies, including Japan, Mexico, Spain and Ireland.
The Manpower survey is conducted quarterly and has a margin of error of
plus or minus 0.6 percentage point in the U.S. The global data covers
about 71,000 employers.
Source: Bloomberg
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