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July 18, 2006
NEW YORK - U.S. job seekers are taking longer to land a position as employers cut back on expansion plans because of concerns over the health of the economy, a survey found on Tuesday.
The typical job search took 3.6 months in the second quarter, nearly a month longer than in the first three months of the year, outplacement firm Challenger, Gray and Christmas reported. Searches also took longer than a year ago, when the typical job hunt lasted 3.1 months.
The survey is a leading indicator of the overall U.S. employment situation about six months in the future, Challenger said. These second-quarter results could presage a significant hiring slowdown, or increased layoffs, by the start of 2007.
The longer search period came despite job seekers' greater willingness to change industries or to move to a new city, Chicago-based Challenger reported.
"The fact that these actions did not help in the second quarter is strong evidence that employers simply are not adding workers at the pace they were in the first three months of the year," Chief Executive John Challenger said in a statement.
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