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Profile: Manpower Inc.
Manpower Inc. was a participant or observer in the following events:
According to a recent Manpower, Inc. survey, US employers’ plans to hire for the third quarter of 2009 are at a record low, and the jobless will have to wait many months more before finding a job. The agency reported that after they adjusted results for seasonal employment variations, its employment gauge for July through September 2009 was negative. In a statement released to media, Jonas Prising, president of Americas for Manpower, says employers are “treading slowly and watching with guarded optimism, hoping a few quarters of stability will be the precursor to recovery.” The report underlines economists’ predictions that unemployment will continue to climb even if layoffs subside. Recent Labor Department statistics reported a loss of 345,000 US jobs in May. Although less than the job losses recorded in the last eight months, the May 2009 jobless rate surged to its highest level in nearly 26 years. In a repeat of results from the two previous periods, 67 percent of employers anticipated zero change in third quarter 2009, Manpower says. Those who expected to boost their payrolls remained at 15 percent for a second time in a row, while those projecting additional job cuts fell to 13-14 percent. “While the numbers may not be as optimistic as we would like, it is positive to see no further deterioration,” says Jeffrey Joerres, Manpower’s chairman and chief executive officer. Six of 13 industries employers surveyed estimated better employment conditions than in the second quarter, with gains in leisure, hospitality, wholesale, and retail trades, while those in construction stated they would add staff for the first time in a year. The biggest hiring corrosion occurred in education, health services, and at government agencies. In three of four regions, the net employment gauge measured negative, and was zero in the Northeast. The measurement improved in the South, dropped in the West, and was little changed in the Northeast and Midwest. Net employment gauge figures are tallied by subtracting the percentage of employers that predict an employment decrease from those that foresee an increase. Manpower’s global outlook survey demonstrated that the net employment gauge for third quarter 2009 improved in 12 countries from the previous three months. Plans for hiring were strongest in India, Norway, and Poland. The Manpower Inc. survey is a quarterly measurement with a margin of error of plus or minus 0.49 percentage point in the US. The employment agency interviewed over 28,000 US employers for its national outlook and surveyed 70,000 companies for its third quarter global measurement. Manpower Inc. is billed as the largest temporary workers employment agency in the world. [Bloomberg, 6/9/2009]
After surveying 28,000 US companies on their future hiring plans, Manpower CEO Jeff Joerres reports that two-thirds of US employers will not change their staffing in the fourth quarter, thus dealing a blow to a consumer-led US economic recovery. Education and health services US employers are more positive about job prospects, while the remaining 11 employment sectors surveyed are more cautious in their plans to hire. The largest declines are in construction, leisure and hospitality, and professional and business services. The survey comes just a few days after the US jobless rate rose to a 26-year high in August to 9.7 percent, although job losses slowed. “Companies are still not going to be in hiring mode,” Joerres says. “They are in cautious mode.” According to Manpower’s international survey of 72,000 employers, previous quarter hiring expectations improved in 20 of 34 countries, although all 34 countries and territories report weaker hiring plans than a year ago. Employers in 15 countries and territories are cutting rather than adding jobs, but Asia and Europe are likely to be first to recover from the global recession. Job prospects in several Latin American countries improved. Prospects in most of Asia and Western Europe are stronger or more stable, although weaker in countries in Eastern Europe. As in the US, Mexico’s hiring plans are the weakest in the survey’s history, but optimism is higher in Canada, revealing better prospects in finance, construction, and real estate. The most optimistic employers in Asia are in India; future hiring looks improved in China, Hong Kong, and Singapore, while Japan’s fourth quarter employment view is flat. “Consumers in Asia and Europe had no need to curtail spending to the extent that Americans did,” says Joerres. “You look at major countries like the UK, Italy, France, Germany, Sweden, they’re all up. Their economies haven’t had the same hits. Other than Spain, you didn’t have a housing market as bad as this. Britain’s housing bust hurt the London area, but hiring plans are stronger in the Midlands.” Joerres cautions that because many economies still rely on exports, especially to the US, an Asian or European recovery could prove short-lived. “They can come out, but they can’t sustain the coming out until the US starts spending.” The US survey by Manpower, a global employment services company based in Milwaukee, is considered a leading indicator of labor trends. The company does business in 80 countries, generating most sales and earnings outside the United States, and conducts quarterly employer surveys. Its US survey dates back to 1962. [Reuters, 9/8/2009]
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