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Economy in Brief

U.S. Manpower Inc. Survey: Hiring Remains Steady For Q2
by Tom Moeller   March 8, 2011

The latest Manpower Inc. Survey suggested that recent improvement in the U.S. labor market will hold steady next quarter. For Q2 2011, the level of the seasonally adjusted diffusion index held at 8 following a downwardly revised 8 in Q1. The latest figure remained the highest since Q1 2009. Since inception in 1976, there has been a 66% correlation between the level of the index and the q/q change in payroll employment.;

The Manpower Inc Employment Outlook Survey is a quarterly measurement of hiring intentions of more than 15,000 employers in 473 cities. Employers declare their intentions to increase, decrease, or maintain the size of their present workforce for the upcoming three-month period. The survey was designed with the assistance of the Survey Research Center of the University of Michigan. The current seasonal adjustments are by Manpower, Inc. Haver Analytics, Inc. calculated the historical seasonally adjusted series.

The overall not seasonally adjusted diffusion index improved to 10 in Q2. That compares with 4 this quarter and 8 during Q2'10. The detail of the survey indicates that Q2 hiring plans continued positive across industries but was strongest in professional & business services and durable manufacturing. The indexes for transportation & utilities and financial activities also improved q/q but were constant with or below last year.

The Manpower Inc Employment Outlook Survey is a quarterly measurement of hiring intentions of more than 15,000 employers in 473 cities. Employers declare their intentions to increase, decrease, or maintain the size of their present workforce for the upcoming three-month period.

The figures referenced above are available in Haver's USECON database.

Manpower Inc. Employment
Outlook Survey (%)
Q2
2011
Q1
2011
Q4
2010
Q3
2010
Q2
2010
2010 2009 2008
All Industries (SA) 8 8 5 6 6 6 1 13
All Industries (NSA) 10 4 4 10 8 6 1 13
  Construction 6 -9 -8 8 4 -2 -6 4
  Manufacturing - Durables 14 6 7 9 8 5 -6 13
  Manufacturing - Nondurables 11 6 6 12 9 7 -2 11
  Wholesale & Retail Trade 12 10 13 15 7 10 7 13
  Transportation & Utilities 8 2 2 9 8 3 -4 14
  Professional & Business Services 15 11 10 15 15 11 8 --
  Education & Health Services 6 6 4 -2 3 2 1 --
  Financial Activities  9 4 4 11 9 7 3 --
  Government 1 0 -6 -2 -1 -3 -3 10
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