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Strategies & Market Trends : Stock Attack II - A Complete Analysis -- Ignore unavailable to you. Want to Upgrade?

To: whydididothat who wrote (30764)	2/25/2002 4:36:31 PM
From: stockman_scott	Respond to of 52237

Hiring pickup likely in spring, new survey finds By Bloomberg News Monday, February 25, 2002 - 12:20 a.m. Pacific WASHINGTON — The number of U.S. employers planning to add workers in the second quarter rose for the first time in more than a year, according to a private survey. The survey of 16,000 businesses being released today by Manpower showed that 21 percent expect to add employees during the period from April through June. That figure is up from 16 percent who planned hiring during the first three months of this year and reflects increases at construction businesses and manufacturers. The improved outlook comes amid signs a recession that started last March is ending. Still, hiring plans are lower than a year earlier, when 28 percent of businesses intended to increase payrolls. That helps explain why the jump in hiring plans "is not significant enough to clearly indicate that a recovery in job formation is imminent," Manpower Chairman Jeffrey Joerres said in a statement. Ten percent of companies said they planned to trim payrolls in the April-June period, down from 16 percent in the first quarter. A year ago, 8 percent of firms said they intended to eliminate jobs. Thirty percent of construction companies surveyed plan to hire, while 9 percent intend to trim staff. Some 20 percent of manufacturers of durable goods, such as autos and appliances, said they would add to payrolls. Still, hiring at such factories remains at levels last seen during the 1981-1982 recession. Sixteen percent of transportation companies and public utilities plan to hire workers, which suggests that "weak hiring abounds," the survey said. About 9 percent of such firms plan to eliminate jobs. Some 22 percent of service companies said they would add workers, while 8 percent are ready to cut jobs. At wholesalers and retailers, 23 percent are preparing to increase hiring, while job cuts are planned at 10 percent of firms. The national unemployment rate was 5.6 percent in January, down from a six-year high of 5.8 percent in December.