Gloomy employment outlook wearing on U.S. workers’ psyche

SHRM ^ | 9/22/08 | Theresa Minton-Eversole

[anniegetyourgun]

U.S. employers are projecting a continued decline in hiring intentions for the fourth quarter of 2008, according to the seasonally adjusted results of the latest quarterly Manpower Employment Outlook Survey conducted by Manpower Inc. And the effects are weighing heavy on the minds of the country’s employees and those looking for work.

“The continuing softness in hiring activity comes as no surprise as weakening market conditions are causing many companies to carefully adjust their hiring in line with the demand for their product or service,” said Jeffrey A. Joerres, chairman and CEO of Manpower.

Of the 14,000 employers surveyed in the United States, only 22 percent expect to increase their staff levels during the October through December period, while 13 percent expect to reduce their payrolls, resulting in a net employment outlook of 9 percent. Fifty-nine percent expect no change in hiring, and 6 percent are undecided about their hiring for the rest of the year.

Seasonally adjusted survey data show that six of the 10 industry sectors surveyed will decrease hiring slightly during the quarter compared to the third quarter of 2008, continuing a downward trend. Durable and Non-Durable Goods Manufacturing, Transportation/Public Utilities, Wholesale/Retail Trade, Finance/Insurance/Real Estate and Services employers expect decreased hiring activity during the upcoming quarter. Employers in the Construction, Education and Public Administration sectors indicate stable hiring conditions, while Mining remains the only sector looking to increase staff levels for the upcoming quarter.

“Despite the current business environment and the uncertainty that often comes with pending elections, the near-term employment outlook appears to have stabilized in some industry sectors and continues to grow in Mining, creating potential opportunity for job seekers,” said Jonas Prising, president of Manpower North America.

Job seekers can expect a slower fourth quarter hiring pace in the majority of the world's labor markets, revealed the Manpower survey of global hiring trends.

“The recent downturn is weighing on the minds of employers. They are not conducting widespread layoffs across all industry sectors, which is encouraging; yet, we are not seeing much appetite to add staff either," said Joerres. “Some key markets, such as the U.S., U.K. and Spain, are clearly struggling to gain traction in the current downturn, while others, such as France and Germany, appear to be holding their own. In the coming months we will continue to see employers around the globe making do with the people they have, finding ways to contain costs and being very cautious about hiring decisions.”

Influence of Election

More than half of American workers are worried about finding a new job if they become unemployed, followed closely by concerns over their ability to pay for health care insurance, according to the latest America At Work national poll conducted by the employment attorney network Employment Law Alliance.

In the in-depth survey of 1,159 workers conducted after the Democratic and Republican presidential tickets were announced and just before the U.S. Labor Department reported national unemployment at a five-year high of 6.1 percent, workers were asked their views regarding a wide range of workplace-related issues and national economic issues and their preferences between the presidential candidates regarding those challenges.

Stephen J. Hirschfeld, CEO of ELA, said the poll could not be more timely.

Workers, a mix of full-time (83 percent) and part-time (17 percent) employees over age 18, ranked their top issues among a group of eight workplace challenges presented in the poll, which was conducted for ELA by market research firm Reed Group. The results revealed that:

• 51 percent are worried about finding a new job if they lose their current one.

• 45 percent are troubled by the increasing cost to workers of employer-sponsored health care plans.

• 37 percent fear losing a job because of poor economic conditions.

• 28 percent are concerned about fewer job opportunities because of outsourcing.

Besides ranking workplace-related issues, the respondents evaluated presidential candidates John McCain and Barack Obama regarding their ability to promote policies to address these workplace issues. In the four areas causing workers the greatest concern, a higher percentage of respondents said Obama was seen as more likely to address those challenges satisfactorily. Specifically, the results showed respondents thought Obama would be more likely to:

• Tackle lack of affordable health care (51 percent to McCain’s 20 percent).

• Address Americans’ ability to find a new job (32 percent to McCain’s 21 percent).

• Help control increases in health care insurance (40 percent to McCain’s 25 percent).

• Address the possibility of job loss attributable to national economic woes (40 percent to McCain’s 25 percent).

McCain fares significantly more favorably in the poll (60 percent vs. 13 percent) when workers were asked which candidate would more likely be able to control illegal immigration. Still, Obama led by wide margins when it comes to making it harder for U.S. companies to outsource jobs overseas (51 percent vs. 15 percent) and dealing with the lack of renewable energy sources (44 percent vs. 30 percent).

“Our poll results clearly show that after fear of finding another job if displaced, related pocketbook issues—led by the affordability of health care insurance—have American workers on edge. These highly personal issues—much more than the prospect of tackling immigration and making it easier for unions to organize—are trending as the paramount hot-button election issues. Perhaps the real battleground in this election is every American workplace.”

[Calif4Bush]

Hockey Puck! Anyone who wants to work can work!! Maybe not the $100,000.00 a year job, but work at anything and everything.

[wbill]

Of the 14,000 employers surveyed in the United States, only 22 percent expect to increase their staff levels during the October through December period,

Other than retail, and other seasonal employers (USPS, UPS), who the heck ramps up employment over Christmas?

Much hysteria over nothing....