Job Growth in Illinois Remains Flat
Posted on June 15, 2010
Overall, the survey showed that employer hiring plans for the third quarter also remains flat, despite recent positive stats showcased in the media.
A seasonally adjusted net 6% of firms saying they intend to hire, up from 5% in the second quarter.
That means hiring plans are up from a record-low negative 2% in 2009’s third quarter on a seasonally adjusted basis, according to the Milwaukee-based firm’s survey of more than 18,000 U.S. employees.
“This is the third quarter in a row where we’ve seen an improved outlook,” said Jonas Prising, president of Manpower of the Americas. “It is not unusual to see a slow start like this when you return from a very difficult recessionary environment, and job growth as we know is a lagging indicator.” The net employment outlook was 6% for the first quarter, on a seasonally adjusted basis.
For the past three quarters, Prising said, “Employers have said, ‘Yep, I’m going to be holding on to my workforce and I intend to hire more but not much more.’ That’s what we’re seeing — very slow but steady progress on the job-creation front.”
In a thriving economy, the Manpower employment-outlook reading tends to hover in the mid-20s. Before the record low of negative 2% for the third and fourth quarters of 2009, the survey’s previous low point was a net 1% hiring outlook for the third quarter of 1982. The survey started in 1962.
The Manpower survey measures the percentage of firms planning to hire minus those intending layoffs. Manpower doesn’t measure the number of jobs.
Separately, the U.S. Labor Department said the economy gained a seasonally adjusted 431,000 jobs in May, but those positions were mainly for temporary Census hiring