WorkForce21   Manpower 4th Quarter 2001 Hiring Report

For Release Monday, February 25, 2002 U.S. EMPLOYMENT OUTLOOK IMPROVES SLIGHTLY FOR SECOND QUARTER 2002 U.S. hiring activity will improve slightly in the second quarter of 2002 according to the Employment Outlook Survey, conducted quarterly by Manpower Inc. Of the nearly 16,000 firms interviewed, 21% expect to add employees in the second quarter compared with only 16% in the first quarter of the year. Only 10% of employers intend to reduce their staff levels in the second quarter, compared with 16% in the first quarter. A full 63% of companies surveyed expect to maintain their current workforce levels and 6% were uncertain. When the seasonal impact is removed from the data, the improvements over first quarter are minimized to reflect only a slight 1% increase in hiring activity. In the second quarter of last year, 28% planned to hire additional employees, 8% intended to make cutbacks, 59% did not foresee any changes and 5% were uncertain. "The deseasonalized data for second quarter suggests the first improvement in hiring intentions in more than a year; however, the change is not significant enough to clearly indicate that a recovery in job formation is imminent," said Jeffrey A. Joerres, Chairman and CEO of Manpower Inc. "The Durable and Non-Durable Goods Manufacturing sectors showed the greatest improvements for the quarter, with hiring levels making modest gains over the depressed levels that have been evident in the past several quarters. Overall, six of the 10 industry sectors are indicating steady or slightly improved hiring activity compared with three months ago." According to Joerres, the outlook is consistent across the country. The Northeast is expected to maintain a steady hiring pattern from quarter one, but all other regions show a general improvement in hiring activity for the second quarter. The results by industry: MINING: The outlook darkens as another drop in job prospects looms for this sector, with 16% of firms hiring and 11% cutting back. CONSTRUCTION: A return to warmer weather will also bring the first increase in hiring activity for the construction industry since the beginning of 2001. Thirty percent of the employers interviewed plan to add workers, while another 9% are set to decrease their personnel levels. DURABLE GOODS MANUFACTURING: This sector moves back into positive hiring activity on a deseasonalized basis, but hiring levels remain in the range of the 1981-1982 recession. More jobs will be available at 20% of employers, while 14% will reduce staffing levels in the coming months. NON-DURABLE GOODS MANUFACTURING: The second quarter marks a return to the hiring patterns that followed recessionary periods of the past, with more job opportunities anticipated at 19% of firms and job reductions expected at 9% of the companies interviewed. TRANSPORTATION & PUBLIC UTILITIES:Weak hiring activity abounds for transportation companies and utilities, with another consecutive quarterly decline foreseen in the second quarter. Employment prospects are positive at 16% of firms and negative at 9%. WHOLESALE & RETAIL TRADES: The employment outlook is flat from first quarter to second quarter, when the hiring data is deseasonalized. Additional staffing requirements are imminent for 23% of employers, but jobs will be cut by 10% of wholesale and retail firms. FINANCE, INSURANCE & REAL ESTATE: Labor projections are on an even pace with the first quarter of the year, as the normally anticipated seasonal upswing is projected to be absent in the coming months. An increase in job prospects is probable for 18% of firms in this sector at the same time as 8% are preparing to reduce their labor pools. EDUCATION-PUBLIC & PRIVATE:Hiring activity among educational institutions is poised to drop another few notches in the second quarter with 12% of companies planning to add personnel and 9% dropping workers off the payroll. SERVICES:Slight job gains are forecast in the services sector with 22% of firms adding staff and 8% ready to cut staff. PUBLIC ADMINISTRATION: Employment prospects continue to slide in the public sector with a 5% net decline on the way, taking seasonal adjustments into account. This quarter, 19% expect to hire and 8% anticipate reductions. THE EMPLOYMENT OUTLOOK SURVEY Manpower Inc. conducts the Employment Outlook Survey in the United States on a quarterly basis. It is a measurement of employers' intentions to increase or decrease the permanent workforce, and during its 26-year history has been a significant indicator of employment trends. The survey is based on telephone interviews with nearly 16,000 public and private employers in 478 U.S. markets. For more information, visit Manpower's U.S. Web site at www.us.manpower.com. Manpower Inc. is a world leader in the staffing industry, providing workforce management services and solutions to customers through 3,900 offices in 61 countries.