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March 10, 2009
Manpower Inc. has just unveiled another quarterly report on hiring trends and it does not paint a pretty picture.
Employers say they'll continue to cut back on hiring through the second quarter of 2009.
That trend isn't only in the U.S. The survey involved nearly 72-thousand employers around the world and finds expectations for hiring to be weaker in every nation compared to this time in 2008.
Jeffrey Joerres, Chairman and CEO of Manpower Inc says, quote, "hiring patterns in the U.S. have declined to those seen during the recession of 1982." He says employers are struggling to both generate a profit and maintain a workforce infrastructure.
To do that he says companies are coming up with creative alternatives to downsizing including reduced work weeks, voluntary pay cuts and pay freezes to hang onto people they already have.
Both the U.S. and Canadian labor markets are expected to contract considerably according to the report.
Problems with the auto industry are forcing companies involved in the entire supply chain to park their expansion plans. Read more at arkansasmatters.com.
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