Manpower Employment Outlook Survey Finds Hint of Restraint in U.S. Hiring Plans for the Second Quarter
MILWAUKEE, March 13, 2007 /PRNewswire-FirstCall via COMTEX News Network/ -- In the United States, employers plan to tone down hiring activity during the second quarter of 2007, according to the seasonally adjusted results of the latest Manpower Employment Outlook Survey, conducted quarterly by Manpower Inc.
(Logo: http://www.newscom.com/cgi-bin/prnh/20060221/CGTU012LOGO)
"A look at the last three quarters of survey data suggests that employers are shifting into neutral when it comes to hiring," said Jeffrey A. Joerres, Chairman & CEO of Manpower Inc. "Companies expect to coast through the next three months without much growth in the way of staff. It is a subtle change that may not yet be perceived in the job market, however it is a break from the three plus years of nearly unchanged hiring plans."
Of the 14,000 U.S. employers surveyed, 28% expect to increase payrolls during the second quarter of 2007, while 7% expect to trim staff levels. Fifty-nine percent expect no change in the hiring pace, and 6% are undecided about their hiring plans.
The seasonally adjusted survey results show that employers are more likely to maintain or reduce staffing activity rather than ramp-up hiring. Employers in Durable and Non-Durable Goods Manufacturing, Education and Public Administration sectors express similar hiring intentions for the first and second quarters of 2007. Mining, Construction, Wholesale/Retail Trade and Services employers are less confident about hiring than they were in the first quarter, while Transportation/Public Utilities and Finance/Insurance/Real Estate hiring managers foresee improved job prospects during the spring months.
"A look at the shifts within the industry sectors brings context to the hiring pause expected in the second quarter," said Jonas Prising, President of Manpower North America. "During the last year, hiring intentions among Construction employers steadily declined to early 2004 levels, such that second quarter results are among the weakest of the 10 industry sectors. Factor in the increasingly conservative mood of Durable Goods Manufacturing, Finance/Insurance/Real Estate and Services employers, and we have a clearer picture of the industries that are impacting the softer survey results."
At the regional level, there are minimal changes in hiring expectations compared to the first quarter. Employers in the Northeast and South expect to maintain similar levels of employment activity, while those in the Midwest and West anticipate slightly weaker hiring conditions in the next three months. Among survey participants, those in the South are the most upbeat about hiring, and those in Midwest are least optimistic.
In addition to the United States, the Manpower Employment Outlook Survey is conducted in 26 other countries and territories. The quarterly report from Manpower Inc. is the most extensive, forward-looking employment survey in the world, gathering data from nearly 50,000 employers across the globe each quarter.
Overall employment expectations in the global labor market are mixed for the second quarter, with employers in 14 countries and territories expecting to increase the pace of hiring from both the first quarter of 2007 and one year ago. The Manpower survey showed the most optimistic hiring expectations for the second quarter are in Singapore, Peru, Argentina, South Africa, India, Australia, New Zealand and Japan. Employers in Australia, Germany, Italy, Japan, Mexico, Netherlands, Singapore, South Africa and Switzerland reported their most optimistic hiring plans since the survey began in these countries.
Of the countries surveyed in the Europe, Middle East and Africa (EMEA) region, job prospects are strongest in South Africa, Ireland, Switzerland, Norway and the UK, while French employers reported the weakest, but still positive, hiring expectations in the region. In addition to the improvement reported for Germany, Italian employers also reported a notable boost in hiring plans from last year at this time.
Employer hiring projections for the eight countries and territories included in the survey across the Asia Pacific region are mixed, with a weaker job market ahead for Taiwan, India and Hong Kong compared to last year at this time. On the other hand, seasonally adjusted data reveals demand for employees is heating up in Singapore and Australia.
Of the six countries surveyed in the Americas, employers in Peru and Argentina are the most optimistic about adding to their workforces, while employers in Mexico have the strongest hiring expectations since the survey began in the third quarter of 2002. The hiring pace is expected to be slightly weaker from one year ago in Canada and the U.S.
The next Manpower Employment Outlook Survey will be released on June 12, 2007, to report hiring expectations for the third quarter of 2007.
Note to Editors
All comments are based on seasonally adjusted data where available. The region reported in the past as "Europe" has been changed to "Europe, Middle East and Africa (EMEA)" to include results from South Africa, which joined the survey program in the 4th quarter of 2006.
Graphical illustrations and full survey results for each U.S. region and industry sector can be found in the Manpower Employment Outlook survey report. The report can be accessed in the Manpower Press Room at http://www.manpower.com/meos. Here you will also find results of the surveys conducted in the other 26 countries. All graphs from the full report are available to be downloaded for use in publication or broadcast from the Manpower Online Visual Library, also located in the Press Room on http://www.manpower.com/library.
Manpower Employment Outlook Survey data is available for more than 460 U.S. markets across the country. Local findings can be obtained by contacting Bethany Perkins at 414.906.6253 or bethany.perkins@na.manpower.com.
About the Survey
The Manpower Employment Outlook Survey is conducted quarterly to measure employers' intentions to increase or decrease the number of employees in their workforce during the next quarter. It is the most extensive forward-looking survey of its kind, unparalleled in its size, scope, longevity and area of focus. The Survey has been running for more than 40 years and is one of the most trusted surveys of employment activity in the world. The Manpower Employment Outlook Survey is based on interviews with nearly 50,000 public and private employers worldwide and is considered a highly respected economic indicator.
The Manpower Employment Outlook Survey is currently available for 27 countries and territories: Argentina, Australia, Austria, Belgium, Canada, China, Costa Rica, France, Germany, Hong Kong, India, Ireland, Italy, Japan, Mexico, Netherlands, New Zealand, Norway, Peru, Singapore, Spain, South Africa, Sweden, Switzerland, Taiwan, the United Kingdom and the United States. The program began in the United States and Canada in 1962, and the United Kingdom was added in 1966. Mexico and Ireland launched the survey in 2002, and 13 additional countries were added to the program in 2003. New Zealand joined the program in 2004, China, India, Switzerland and Taiwan were added in 2005, and Argentina, Peru, Costa Rica and South Africa joined in 2006. For more information, visit the Manpower Inc. Web site at http://www.manpower.com and enter the Research Center.
About Manpower Inc.
Manpower Inc. (NYSE: MAN) is a world leader in the employment services industry; creating and delivering services that enable its clients to win in the changing world of work. The $18 billion company offers employers a range of services for the entire employment and business cycle including permanent, temporary and contract recruitment; employee assessment and selection; training; outplacement; outsourcing and consulting. Manpower's worldwide network of 4,400 offices in 73 countries and territories enables the company to meet the needs of its 400,000 clients per year, including small and medium size enterprises in all industry sectors, as well as the world's largest multinational corporations. The focus of Manpower's work is on raising productivity through improved quality, efficiency and cost-reduction across their total workforce, enabling clients to concentrate on their core business activities. Manpower Inc. operates under five brands: Manpower, Manpower Professional, Elan, Jefferson Wells and Right Management. More information on Manpower Inc. is available at http://www.manpower.com and http://www.us.manpower.com.
SOURCE Manpower Inc.
Mary Ann Campbell of Manpower Inc., +1-414-906-7320, maryann.campbell@na.manpower.com
http://www.manpower.com/
Copyright (C) 2007 PR Newswire. All rights reserved
News Provided by COMTEX