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Benefits February 26, 2001
Hiring Trends Still Strong, But Weakening
February 26, 2001 (PLANSPONSOR.com) - Just 28% of US
employers are planning to expand hiring in the second
quarter, the weakest Q2 outlook since 1996, according to
Manpower.
Reported by Nevin E. Adams
The quarterly survey of nearly 16,000 companies found that 59% of employers isn’t planning any changes, while 8% expects to cut staff and 5% aren’t sure. A year ago, 32% was planning increases in what was the highest Q2 expectations since 1978.
Expectations for a slowdown were evidenced across all industries and regions, but durable goods manufacturing and wholesale and retail trades look to be the hardest hit.
Manufacturers of durable goods reported 30% with plans to increase hiring, but 12% planning to cut staff. And while the survey found that 28% of wholesale/retail trades expected to hire more, 10% were anticipating cuts.