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Archive for Wednesday, June 18, 2003

National prospects reach lowest level in decade

June 18, 2003

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— Three out of four employers expect to cut jobs or hold off on hiring this summer, contributing to the worst employment market since the early 1990s, a new survey said Tuesday.

About two-thirds of employers said they don't expect to hire any additional workers and 9 percent plan to eliminate jobs during the July-to-September quarter, according to the survey by Manpower Inc.

"Let's try not to get anyone too depressed, but the facts are the facts," said Jeffrey Joerres, chairman and chief executive officer of Manpower, which surveys 16,000 businesses for its quarterly survey.

Although 20 percent of employers in the survey said they plan to add jobs, competition for work is expected to be high. Six percent are uncertain about their employment plans.

Manpower, which is based in Glendale, Wis., and is the nation's largest staffing company, has conducted the survey for 27 years.

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