Labor Markets To Remain Weak
A survey to be released today finds few employers are planning to hire during the fourth quarter, another blow to President Obama, whose re-election may hinge on whether the economy improves before Election Day.
“Between the uncertainty in the global economy and the uncertainty of the election, the survey results are really not surprising,” said Susan Fontana, regional vice president at ManpowerGroup, the global staffing agency that interviewed more than 18,000 employers nationwide for the survey. “In an election year, we see more of a stalling pattern. Then businesses start to move forward with their plans.”
Of the more than 140 employers interviewed in Greater Boston, only 13 percent said they plan to hire more employees in the next three months, while 7 percent expect to reduce staff. That’s a net employment outlook of 6 percent — less than half the 13 percent in the current quarter and lower than the 9 percent fourth-quarter outlook a year ago.