This Day On The Street
Continue to site
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here

Global Job Creation Set to Slow: ManPower

Job creation across the world is set to slow sharply in the last three months of the year, as companies plan to scale back their hiring plans in response to the stuttering global economy, according to a leading survey of employers.

The Employment Outlook survey, released on Tuesday by ManpowerGroup (MAN), the global recruiting company, will be unwelcome news for policymakers, who are struggling to bring down stubbornly high unemployment rates.

President Barack Obama last week outlined a $450 billion jobs plan, following an official report that showed the U.S. economy created no new jobs in August, and the jobless rate remains at 9.1%.

The ManpowerGroup report, which questioned 65,500 employers in 41 countries, suggests that while employers in most regions still plan to hire new workers in the fourth quarter, the already-sluggish pace of job growth will drop from the current quarter.

The survey indicates that employers intend to cut the rate of hiring from the third quarter or keep it stable in 32 of the 39 countries for which there are comparable data. Employers in India and Turkey plan to reduce the pace of job-creation the most, but hiring is also expected to slow in a slew of the world's biggest economies, including the U.S., the U.K., France, Italy, China, Canada, Mexico and Australia.

"The spark of optimism seen in the global labor market last quarter did not take hold, as employers in the majority of countries we research are now throttling their hiring needs," said Jeff Joerres, ManpowerGroup chief executive.

"Companies across the world are now more agile and quick to adjust to macro threats and decreased demand in their own businesses, giving employers a hyperactive index finger when it comes to hitting the start/stop button on hiring," oerres added.

ManpowerGroup attributed the fall in Indian companies' hiring plans to weaker U.S. demand, noting that the U.S. accounts for almost 60% of the revenue in the $60 billion Indian information technology industry.

U.S. employers said they planned to slow the pace of hiring for the first time in more than two years. Companies in nearly half the sectors surveyed said they expected a "considerable decrease" in the rate of job growth.

In China, the company said job prospects were likely to decline for the fourth consecutive quarter as employers, especially small businesses, continue to struggle with increasing labor costs.

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
Dividend Stock Advisor

David Peltier identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Real Money

More than 30 investing pros with skin in the game give you actionable insight and investment ideas.

Product Features:
  • Access to Jim Cramer's daily blog
  • Intraday commentary and news
  • Real-time trading forums
Only $49.95
14-Days Free
14-Days Free
AAPL $92.64 -0.64%
FB $119.18 1.20%
GOOG $709.69 1.20%
TSLA $215.24 1.80%
YHOO $37.22 0.76%


Chart of I:DJI
DOW 17,734.44 +73.73 0.42%
S&P 500 2,055.44 +4.81 0.23%
NASDAQ 4,726.6620 +9.5680 0.20%

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs