The 2020 Mid-Year Economic Update_long

Employers Remain Cautious on Hiring Plans for the 3Q

Survey results released today by staffing firm Manpower Inc. show that employers are still reluctant to add staff in the third quarter 2009. The hiring picture in the U.S. is unchanged from the survey's second-quarter results, but the rate of labor market contraction is expected to level off.
 
The firm suggests that the results imply the "worst in behind us," though the survey covered mostly hiring plans and not downsizing. So while the analysis itself may be sitting on a shaky foundation, the overall results do show that globally, the employers surveyed remain cautious and are waiting to see whether the third quarter plays out better than the first and second ...
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Survey results released today by staffing firm Manpower Inc. show that employers are still reluctant to add staff in the third quarter 2009. The hiring picture in the U.S. is unchanged from the survey’s second-quarter results, but the rate of labor market contraction is expected to level off.
 
The firm suggests that the results imply the "worst in behind us," though the survey covered mostly hiring plans and not downsizing. So while the analysis itself may be sitting on a shaky foundation, the overall results do show that globally, the employers surveyed remain cautious and are waiting to see whether the third quarter plays out better than the first and second did.
 
In the survey: Employers in 11 of 34 countries and territories expect some positive hiring activity in the coming quarter, but those in 22 are forecasting negative outlooks with 17 reporting their weakest hiring plans since the survey was established. Across the eight countries surveyed in the Americas region, hiring expectations are weaker compared to one year ago. The survey points out the Canadian and U.S. durables manufacturing sector as one that "will continue to struggle" as "employers grapple with demand issues."
 
In a recent issue of MDM, we looked at how to manage talent for the upswing. One the biggest mistakes employers make is cutting too deeply and not being able to recover when the economy rebounds. Many employers are still focused on the short-run; and while that implies many are still in survival mode, experts in the article tell MDM that it may be time to start to think slightly more long-term, as far as talent management is concerned. Read How to Manage Talent for the Upswing here.

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