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March 11, 2008
Employers Anticipate Hiring Slowdown

Employers in the United States anticipate a decline in hiring for the second quarter of 2008, according to a quarterly survey of 14,000 employers by Manpower, Inc.

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"A slowing in hiring intentions reflects a widespread wait-and-see approach among employers," said Jeffrey A. Joerres, chairman & 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."

Of the 14,000 U.S. employers surveyed, 26 percent expect to increase their workforces during the second quarter of 2008, while 9 percent expect to reduce staff levels. Sixty percent expect no change in the hiring pace, and 5 percent are undecided about their hiring plans for the second quarter.

The seasonally adjusted survey results show the weakest employment outlook since the first quarter of 2004, as hiring activity is expected to remain stable or decrease in all industry sectors but one--transportation/public utilities.

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