Manufacturers Forecast Recession-Level Hiring

Manufacturing and services industries are expecting fourth-quarter hiring to be at or near levels last seen in the last recession, with no evidence of the trend reversing, according to staffing firm Manpower Inc.

At the same time, retail hiring expectations for the key holiday season also are showing weakness, Manpower said.

In its latest quarterly survey coming today, Manpower found that only 24% of the nearly 16,000 companies interviewed expect to add employees in the fourth quarter, down from 32% in the year-earlier quarter. Eleven percent said they would cut employment, up from 7% a year ago.

The manufacturing sector continues to suffer, with hiring intentions near levels seen in the last recession in the early 1990s, Jerry Joerres, chairman and chief executive of Milwaukee-based Manpower said.

In the retail business, seasonal hiring increases still will take place, but at their lowest level in eight years. This is in sharp contrast to last year, when there were questions about how retailers would find enough staff for the holiday season, Joerres said.