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Strategies & Market Trends : MDA - Market Direction Analysis -- Ignore unavailable to you. Want to Upgrade?

To: Lee Lichterman III who wrote (24159)	8/30/1999 2:51:00 PM
From: TWICK	Read Replies (1) \| Respond to of 99985

Many analysts are down-playing Friday's job report, stating that the numbers should not surprise to the upside. I'm taking a contrarian stance. They surprised everyone last time, why should it again this time ? Monday August 30 11:24 AM ET U.S. Job Market Seen Remaining Strong CHICAGO (Reuters) - The U.S. job market will likely remain strong through year-end, but demand for workers will probably slacken somewhat from the third quarter's torrid pace, according to a survey of U.S. companies released Monday. The quarterly poll of nearly 16,000 companies by temporary-employment company Manpower Inc. (NYSE:MAN - news) found that 30 percent planned to add staff, while just 8 percent expected job cuts. About 58 percent expected no change, and 4 percent were uncertain. In the previous survey three months ago, 32 percent of the companies surveyed expected to increase employment, 6 percent expected cuts, 58 percent expected no change, and 4 percent were undecided. Manpower noted that the fourth quarter is normally a quieter employment period. Excluding the effect of seasonal variation, prospects for job seekers will actually be better than they were in the third quarter, the company said. ``Help-wanted signs in so many retail establishments testify to the almost insatiable demand for workers in that industry, and durable goods manufacturers have been finding it necessary to recruit from an undersized pool of workers with the skills to operate modernized equipment and systems,' said Jeffrey Joerres, Manpower's president and chief executive officer. Manpower said demand for holiday help has led wholesale and retail companies to begin recruiting in advance of the fourth quarter. About 40 percent of the wholesale and retail companies surveyed said they plan to look for additional workers, while only 8 percent plan job cuts. Manpower said 30 percent of durable goods manufacturers plan to hire more employees in the fourth quarter, while 10 percent plan cutbacks. About 28 percent of nondurable goods makers expect to add staff, while 9 percent will trim payrolls. An abundance of building and remodeling projects will bolster hiring at construction companies, which normally cut down on workers during the seasonally slow fourth quarter. The survey found 26 percent plan to add workers, while a record-low 10 percent will reduce employment. In the transportation and public utilities sector, 24 percent forecast hiring staff, while 7 percent expect to cut back. About 22 percent of finance, insurance and real estate firms said they would add employees, and 6 percent expect reductions.