Global hiring prospects improve -Manpower

* U.S. seasonally adjusted employment outlook up slightly

* Hiring intentions improve in 23 of 36 countries

* Job outlook up in big European economies despite crisis

By Nick Zieminski

NEW YORK, June 8 (BestGrowthStock) – Employers in most economies
are more likely to add workers than three months ago, including
those in the United States, but big gains are limited to
booming emerging economies like Brazil, India and China,
according to a quarterly survey by Manpower Inc (MAN.N: ).

Manpower’s survey, considered a leading indicator of labor
demand, suggests an employment recovery will continue in much
of the world, but employers remain cautious. In the United
States, large-scale job creation is unlikely in coming months.

The global employment services company said Tuesday its
seasonally adjusted U.S. net employment outlook was plus-6 for
the third quarter, up slightly from plus-5 in the previous
survey. It was negative a year ago.

Manpower’s index, based on interviews with 18,000 U.S.
hiring managers, measures the difference between those who say
they will add to their workforce and those who plan cuts. About
70 percent reported no change in their outlook, continuing a
recent trend that shows many employers remain unconvinced about
the sustainability of the current economic rebound.

“We’ll go into the third quarter and see more of what we
saw in the second — no doubt improved BLS numbers, but not so
improved that we’re going to feel like we’re out of the woods,”
Manpower Chief Executive Jeff Joerres said.

BLS refers to the U.S. government’s Bureau of Labor
Statistics, which reports monthly employment figures and Friday
said 431,000 jobs were added outside the farm sector in May.
That was far fewer than expected, and growth in private
payrolls also fell short of forecasts. [ID:nLDE6531CY]

Encouraging economic signals include a production managers’
index that indicates a recovering manufacturing sector, Joerres
said. But U.S. employers are able to meet added demand with
their existing workforce, and will resist adding new workers
until they see credible evidence that demand is sustainable.

“To get that evidence, we may have to wait until the first
quarter,” Joerres said, noting that hiring is seasonally weak
in the fourth quarter. He described the pace of a U.S. jobs
recovery as “still very tepid.”

Manpower’s survey dates back to 1962 in the United States
but has a shorter history in other countries. The Milwaukee,
Wisconsin-based company is active in 82 countries and makes
most of its sales and profit outside the United States.


Manpower’s global survey of hiring intentions, based on
61,000 interviews, found better jobs prospects in 23 of 36
countries and territories when compared with the second
quarter, and all but four were higher from a year ago.

The strongest hiring prospects are again in emerging Asian
economies like India and China, where companies enjoy both
local and export demand. China’s hiring outlook is the
strongest since Manpower started surveying employers there five
years ago, while India’s has rebounded to a two-year high.

Prospects improved in Japan for the fourth consecutive
quarter but remain the lowest in the region, partly a result of
political turmoil.

“There’s a lot of trepidation in the air in Japan, and as a
result hiring is being depressed,” Joerres said.

In Latin America, the majority of employers in Brazil
anticipate taking on staff. Mexico can also expect a better
hiring environment, especially in manufacturing and mining, but
the hiring outlook dipped in Argentina.

In Europe, the weakest third-quarter hiring plans were
reported in Italy, Ireland, Spain and Greece, while employers
in larger economies like France, Germany and the United Kingdom
are more willing to add workers over the next three months.

Manpower’s third-quarter survey was conducted before a debt
crisis in Greece led to a nearly $1 trillion European rescue
plan. But Manpower’s internal data suggests the crisis has had
limited effect on the confidence of European employers.

“We’ve been seeing really no change in our business since
the Greek credit crisis of a month ago,” Joerres said.

More employers than last quarter expect to boost hiring in
Central European economies, as well as in Spain, Sweden,
Austria and Belgium, Manpower said. Prospects are down in
Norway, Switzerland and in South Africa, which Manpower groups
with Europe and the Middle East.

Stock Market News

(Reporting by Nick Zieminski, editing by Matthew Lewis)

Global hiring prospects improve -Manpower