Hiring Outlook Strong, Report Says

U.S. workers can expect the best fourth-quarter job prospects in 21 years amid strong demand from industries such as construction and clothing, the world’s largest staffing services firm said in a report released today.

But hiring trends are likely to slip from lofty third-quarter levels in a typical seasonal decline, Manpower Inc.’s quarterly employment outlook survey suggests.

According to the survey, 29% of the more than 15,000 U.S. businesses polled expect to add to their work force in the coming three months, while 7% intend to reduce hiring and 60% plan to maintain current levels.

The figures are below third-quarter numbers when 32% of the firms surveyed anticipated increases, 5% planned reductions, and 59% planned to maintain existing levels.

“The overall figures for the quarter are the highest recorded for any fourth quarter since 1977,” said Mitchell Fromstein, chief executive of Milwaukee-based Manpower.

Fromstein said the only sign of weakness is among manufacturers of durable goods, whose hiring projections have fallen for the second consecutive quarter. That might partly reflect the effect of Asia’s economic troubles on U.S. manufacturing, he said.

Of the 10 industries surveyed, wholesalers and retailers showed the strongest enthusiasm for hiring later this year, as the holiday season opens up job opportunities, Manpower said. About 39% of those respondents said they planned to take on new workers, while 6% said they’ll reduce payrolls.