Milwaukee, WI, June 14--Businesses expect that the stable hiring pattern they have reported since the beginning of the year will continue into the third quarter, according to the seasonally adjusted results of the latest Manpower Employment Outlook Survey, conducted quarterly by Manpower Inc.
"Hiring expectations among U.S. employers have had an element of deja vu for six quarters now. It may seem peculiar for the job outlook to change so little over that period of time, but this scenario is not unheard of in our survey's history. In the late 1990s, we witnessed a similar streak of consistency from hiring managers, which lasted for more than two years," said Jeffrey A. Joerres, chairman & CEO of Manpower Inc. "This indicates that employers are hiring on an as-needed basis, but are still not ready to staff up until demand for their business truly requires it."
Of the 16,000 U.S. employers that were surveyed, 31% expect an increase in hiring for the third quarter, while 6% anticipate a decrease in employment opportunities. Fifty-seven percent of companies polled foresee no change in workforce levels, and 6% are unsure of their staffing plans. The adjusted Net Employment Outlook of 21% for the third quarter of 2005 is identical to the second quarter and similar to a year ago.
Employers in half of the 10 industry sectors surveyed expect that the third quarter hiring pace will be on par with second quarter projections. These sectors include Durable and Non-Durable Goods Manufacturing, Wholesale/Retail Trade, Services and Public Administration.
The employment outlook is slightly stronger for the coming quarter in Construction, Transportation/Public Utilities and Education, while a more sluggish hiring pace is expected in Mining and Finance/Insurance/Real Estate.
"Construction employers anticipate an extremely strong hiring climate. Hiring plans in the Finance/Insurance/Real Estate sector, on the other hand, are expected to soften from their peak in the second quarter when employers predicted the strongest job prospects since 1979," said Joerres.
Third quarter hiring estimates are similar to those reported last quarter and a year ago in two out of the four U.S. regions surveyed -- the Northeast and the West. Employers in the South are somewhat more optimistic about hiring than they were last quarter and last year, while those in the Midwest foresee less hiring activity for the coming quarter. Employers in the South intend to offer the most promising job prospects, while those in the Midwest are least confident about hiring in the next three months.
