Hiring in the US may not be recovering, at least not soon, to the extent that it will help the economy in the fourth quarter. New data from Manpower shows a labor market in America that is not improving, while elsewhere in the world, results are getting better.
The data, based on interviews with 28,000 U.S. employers, show that only one of the thirteen sectors the survey measures is likely to show increased hiring in Q4–education and health services.
The results actually match the Administration’s forecasts that job creation in the health-care industry will be the most crucial part of rising job creation over the next two years. The trouble is that unemployment in other sectors could simply overwhelm this. Manpower expects that two-thirds of American companies plan no hiring in the last quarter of the year.
The silver lining in the Manpower report is that its survey of 72,000 employers outside the US shows 20 of 34 countries in which businesses were polled expect improved activity in adding staff. Most notably India and China anticipate significant growth in hiring. The nation’s are important trade partners with America which means US exports should improve has the year moves toward its close.
Those improved prospects for exports clearly are not making American companies more likely to add people.
Douglas A. McIntyre
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