According to the most recent results of an often-cited survey by ManpowerGroup, hiring plans among U.S. employers for the third quarter of 2014 are the strongest since 2008.
Manpower conducted over 18,000 interviews with U.S. employers in all states, the District of Columbia, Puerto Rico and the top-100 metropolitan statistical areas regarding their job hiring intentions in Quarter 3 (Q3) 2014. The survey covered 13 industry “supersectors” that are representative of the U.S. economy.
Of the employers surveyed:
- 22% anticipated increasing staff levels
- 4% expected to reduce staff levels
- 71% projected no change
- 3% were undecided
The math (22% – 4%) shows a net hiring outlook of 18% for Q3 (July-September) 2014. When tweaked for seasonal variations that can skew employment numbers, the seasonally-adjusted net hiring outlook becomes 14%.
Quarter 3 has the strongest outlook since Quarter 2 2008, when the seasonally-adjusted net hiring outlook was also 14%. Employers have now reported a positive net hiring outlook for 19 quarters in a row, after reporting a negative net hiring outlook in each of the last three quarters of 2009.
Manpower’s survey indicated that employers in all of the 13 industry supersectors expect positive net hiring in Q3 2014, as shown in the seasonally-adjusted percentages listed below.
- Construction 10%
- Education & Health Services 12%
- Financial Activities 10%
- Government 11%
- Information 9%
- Leisure & Hospitality 23%
- Manufacturing, Durable Goods 11%
- Manufacturing, Nondurable Goods 9%
- Mining 20%
- Other Services 8%
- Professional & Business Services 16%
- Transportation & Utilities 14%
- Wholesale & Retail Trade 18%
The survey also indicated that employers in all four of the major U.S. regions expect positive net hiring in Q3 2014 when seasonally adjusted, as follows.
- South 14%
- West 13%
- Midwest 13%
- Northeast 12%
Among the states, employers in North Dakota, Delaware, Michigan, Minnesota, Alaska and Idaho estimated the strongest net hiring outlooks. New Mexico, Mississippi, Kansas, Nevada, Illinois and Florida estimated the weakest.
The unemployment rate stayed at 6.3% in May 2014 from April, the lowest rate in 5-1/2 years. According to the Job Openings and Labor Turnover Summary released today by the U.S. Bureau of Labor Statistics, job openings were 4.5 million in April, up from 4.2 million in March.
ManpowerGroup has been publishing such surveys for over 50 years. For the most recent surveys about hiring projections in the U.S. and other countries as well, visit Manpower Employment Outlook Survey.
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