Pasadena, CA — Approximately 14,000 U.S. human resources directors and senior hiring managers anticipate a significant downturn in job hiring between the months of April and June, according to the quarterly Manpower Employment Outlook Survey.
“A slowing in hiring intentions reflects a widespread wait-and-see approach among employers,” said Jeffrey A. Joerres, chairman and CEO of Manpower Inc. “However, the survey data points to a gradual and measured downshift, not a sudden and overwhelming change. Interestingly, this data does not look like previous recessionary periods where we experienced much more accelerated declines.”
Though a majority of human resources directors and managers may not have intentions to downsize, more than half of them plan not to increase or decrease their workforces between now and June, meaning HR directors and hiring managers will soon have a slower flow of business.
The survey reports that 26% plan to increase their workforces during quarter two of 2008, with 9% predicting reductions in their staff numbers. 60% of HR directors and senior hiring managers expect no change in their hiring paces, and 5% are undecided about their hiring plans through June.
These statistics show the most uncertain employment outlook since the first quarter of 2004. HR directors and senior hiring managers were even more optimistic about hiring three months ago and in the second quarter of last year.
Conversely, the hiring needs in other countries seems to be much more promising. The most hopeful hiring plans of the second quarter were reported by HR directors and senior hiring managers in Singapore, India, Peru, Romania, Costa Rica, Argentina, Poland, Hong Kong, Australia, Greece, and South Africa. Employers in Singapore, Hong Kong, and Australia have reported optimistic hiring plans since the survey began in their countries.
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According to the Department of Labor, the field of human resources is expected to grow by as much as 22 percent from 2008 to 2018. This translates to approximately 197,000 new jobs appearing in the human resource job bank within the same time period, which is very good news, indeed, for the thousands of human resource generalists and specialists.
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