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After two-and-a-half years of reporting similarly strong job prospects, U.S. employers still won't budge on hiring plans for the third quarter of 2006, according to the seasonally adjusted results of the latest Manpower Employment Outlook Survey, conducted quarterly by Manpower Inc.
"Because the hiring outlook has been so consistent for so long, we have had plenty of time to analyze the survey findings and point out the level of sophistication employers have achieved in their hiring. Having reached this extended plateau, it is unlikely that we will experience any major swings, negative or positive, in the job market until employers see a dramatic change in demand for their products and services," said Jeffrey A. Joerres, chairman and CEO of Manpower Inc.
Of the 16,000
When seasonal variations are removed from the data, some positive industry trends emerge. Employers in four sectors - Transportation/Public Utilities, Finance/Insurance/Real Estate, Services and Public Administration - expect slightly improved employment prospects for the third quarter vs. second quarter. Durable and Non-Durable Goods Manufacturing, Wholesale/Retail Trade and Education employers expect the hiring pace to remain about the same.
Employer optimism about hiring is starting to fade in two sectors. Construction employers are less likely to add staff in the late summer months than they were in the April to June period, although the change is minimal. Mining employers report a more noticeable change in hiring plans.
"Although Construction employers expect to hire at a brisk pace again during the third quarter, hiring in this sector has inched downward throughout 2006. There is rampant speculation about the state of the housing market, and these survey results are another piece of evidence that point toward a cooling trend," said Joerres.
Among the four
In addition to the
Third-quarter hiring is expected to be positive in 23 of 25 countries and territories surveyed, with employers in India, Japan, Hong Kong, Ireland and Belgium reporting their most optimistic hiring plans to date, based on seasonally adjusted data. Meanwhile, the labor market continues to cool in
The strongest third-quarter hiring prospects reported globally were in
"Overall, the global labor market appears to be in good shape with continued steady hiring expected in the U.S. and throughout the
Of the eight countries and territories included in the survey across Asia Pacific, adjusted data reveals hiring activity is expected to be strongest in
Adjusted data shows employers in 10 of 12 European countries surveyed expect to add to their workforces in the next three months, and half are reporting improved hiring expectations from last year at this time. Third-quarter hiring prospects are strongest in Ireland, Norway, the United Kingdom, Austria, Spain and Belgium, with Belgian and Irish employers reporting their most optimistic hiring plans to date.
The next Manpower Employment Outlook Survey will be released on September 12 to report hiring expectations for the fourth quarter.
About Manpower Inc.
Manpower Inc. 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 $16 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. More information is available at http://www.manpower.com.