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http://www.bloomberg.com/apps/news?pid=20601082&sid=aHYJfu8iV4YY&refer=canada
By Greg Quinn
March 10 (Bloomberg) -- Canadian employers’ hiring intentions for the second quarter dropped the most since 1983, led by factories, retailers and builders, according to a survey by Manpower Inc.
The net employment outlook, which subtracts the percentage of companies planning to reduce jobs from the percentage that say they’ll hire, fell by 17 points to 1 percent for the April to June period, the lowest level since 1994. The figures are seasonally adjusted.
Hiring plans in retail and wholesale dropped 31 points to 3 percent, and fell 21 points to 10 percent in construction, according to Milwaukee-based Manpower. Manufacturers of durable goods have an employment outlook of negative 9 percent, and non- durable goods makers were at negative 5 percent. Both groups had their hiring prospects decline by 18 percentage points from the first quarter.
The results are less severe than during the last recession in the early 1990s, Lori Rogers, vice president of operations at Manpower’s Canadian unit, said yesterday by telephone from Toronto. There are better job opportunities now in services and government posts, she said.
“There are still jobs for people, they just have to be flexible,” Rogers said. “It doesn’t seem to be as bad as it was in 1991-92.”
In 1992, the overall index fell to negative and didn’t rise above zero until 1994. The survey of 1,900 employers has a margin of error of 2.2 percentage points, and was taken from Jan. 15-28.
Today’s report of the decline in manufacturing doesn’t account for recent automobile layoffs, which may further depress the factory index in the future, Rogers said.
Canada will probably report on March 13 that employers cut their payrolls by 55,000 in February, boosting the unemployment rate to 7.4 percent from 7.2 percent, according to economists surveyed by Bloomberg News.
By Greg Quinn
March 10 (Bloomberg) -- Canadian employers’ hiring intentions for the second quarter dropped the most since 1983, led by factories, retailers and builders, according to a survey by Manpower Inc.
The net employment outlook, which subtracts the percentage of companies planning to reduce jobs from the percentage that say they’ll hire, fell by 17 points to 1 percent for the April to June period, the lowest level since 1994. The figures are seasonally adjusted.
Hiring plans in retail and wholesale dropped 31 points to 3 percent, and fell 21 points to 10 percent in construction, according to Milwaukee-based Manpower. Manufacturers of durable goods have an employment outlook of negative 9 percent, and non- durable goods makers were at negative 5 percent. Both groups had their hiring prospects decline by 18 percentage points from the first quarter.
The results are less severe than during the last recession in the early 1990s, Lori Rogers, vice president of operations at Manpower’s Canadian unit, said yesterday by telephone from Toronto. There are better job opportunities now in services and government posts, she said.
“There are still jobs for people, they just have to be flexible,” Rogers said. “It doesn’t seem to be as bad as it was in 1991-92.”
In 1992, the overall index fell to negative and didn’t rise above zero until 1994. The survey of 1,900 employers has a margin of error of 2.2 percentage points, and was taken from Jan. 15-28.
Today’s report of the decline in manufacturing doesn’t account for recent automobile layoffs, which may further depress the factory index in the future, Rogers said.
Canada will probably report on March 13 that employers cut their payrolls by 55,000 in February, boosting the unemployment rate to 7.4 percent from 7.2 percent, according to economists surveyed by Bloomberg News.