Job Survey Suggests Cautious Hiring, No Recession

MILWAUKEE (AP) -- Even as employers nationwide slashed some 63,000 jobs last month, more than a quarter of U.S. companies say they plan to hire within the next three months, according to a survey of 14,000 companies.

Across the country, some 26% of companies expect to increase the size of their work force between April and June, according to the survey released today by Manpower Inc. Nine percent plan a decrease, while 60% predict no change and 5% are unsure, the Milwaukee-based global staffing company found.

The numbers are slightly worse than those for the same quarter last year, when 28% of employers expected to hire and 7% planned to cut jobs. But they're better than the predictions for the current quarter, when hiring was expected to outpace job cuts by a margin of just 10 percentage points.

From the Manpower press release, "A slowing in hiring intentions reflects a widespread wait-and-see approach among employers," said Jeffrey A. Joerres, Chairman & CEO of Manpower Inc. However, the survey data points to a gradual and measured downshift, not a sudden and overwhelming change. Interestingly, these data do not look like previous recessionary periods where we experienced much more accelerated declines."

(HT: Rick Ballard)