US employers anticipate increase in hiring in Q3--survey

As per the latest Manpower Employment Outlook Survey, conducted by Manpower Inc., one of the world's leading employment agencies, more U.S. employers are optimistic about hiring in the third quarter this year.

This is the third consecutive quarter that the employers in the nation are anticipating favorable hiring plans.

Survey highlights
For the survey, the agency conducted a nation-wide poll among more than 180000 employers in the nation.

Out of the employers questioned, nearly 18 percent expected their staff level to rise in the July to September period.

Though there is an increase in the number of employers who are positive about employment prospects, 8 percent anticipated increase in layoffs.

Based on the survey findings, Manpower Inc. Chairman and CEO Jeff Joerres, stated, “The survey results for the third quarter are indicating a trend of hiring intention that has historically proven to be the positive inflection point of accelerated job growth.”

While 70 percent said they do not foresee any significant change in the employment scenario, four percent of employers signaled uncertainties about hiring plans in the upcoming quarter.

Based on the survey findings, Manpower Inc. Chairman and CEO eff Joerres, stated, “The survey results for the third quarter are indicating a trend of hiring intention that has historically proven to be the positive inflection point of accelerated job growth.”

Sector wise analysis
Manpower Inc. surveyed employers in 13 industries in the nation. Based on the initial stage of job recovery, despite economy being fragile, employers in 11 industries offered positive outlook.

Among all the industries surveyed, the outlook was most favorable in sectors like leisure & hospitality (17 percent), mining (17 percent), professional & business services (15 percent), and wholesale & retail trade (15 percent).

Other sectors with positive outlook included nondurable goods manufacturing, durable goods manufacturing, transportation & utilities, and construction.

The sectors pessimistic about hiring in the third quarter 2010 are government, and education & health services (2 percent).

Among the geographical regions, employers in Northeast are most optimistic. On the other side, employment prospects seem to be a little week in the West.

Unemployment scenario
The survey seems to indicate that the worst slump, since the Great Depression, in the job market seems to be receding and economy is heading towards recovery.

Even the unemployment report released by the U.S. Department of Labor last week reiterates the same sentiment.

The jobless rate in May fell 9.7 percent from 9.9 percent in April. Though the private sector added 41,000 jobs, the fall in unemployment rate was largely attributed to hiring of 411,000 temporary census workers.

The unemployment rate could have declined further but there has been an increase in the number of people deciding to look for work again.