Companies' Hiring Plans Decline For Second Consecutive Quarter

Hiring plans of U.S. companies for the third quarter are nearly the slowest in a decade, according to a survey conducted by Milwaukee, WI-based staffing company Manpower Inc. A survey of 16,000 employers of all sizes showed that 27 percent planned to expand their staff in coming months, down 35 percent from the same period a year ago. Companies expecting layoffs rose 4 percent to 9 percent from the year ago period. However, 59 percent see no change in hiring levels for the next quarter and 5 percent of companies interviewed were undecided. In 1991, 22 percent of firms planned to increase staff, while 10 percent intended to cut back, according to a story reported by The Wall Street Journal. The survey found that only 24 percent of companies in the manufacturing sector expected hiring increases and 15 percent expected to announce layoffs. The construction industry showed that 37 percent of companies expected to add to their staff, which is slow for this sector, while 8 percent will trim their staff.