The Providence region’s tight job market should present a major challenge to employers this summer as supply and demand continue to distances themselves from one another. Manpower’s “Third Quarter Employment Outlook Survey” indicates that 33 percent of Providence-area firms interviewed expect their payrolls to increase during the July through September period, 13 percent say fewer workers will be needed and 54 percent intend to stay at current staffing levels.
“In the survey of three months ago, prospects were bright when 47 percent anticipated staffing up and 10 percent foresaw reductions,” said Sheldon S. Sollosy, president of Manpower’s Providence office. “A year ago, the outlook was more robust as 43 percent planned workforce additions, while 7 percent predicted cutbacks. The third quarter can be one of the most active hiring periods of the year, and with the robust economy, quite challenging in recruiting and retaining workers.”
Beyond Cash Donations: How New Forms of Giving Are Transforming Not-for-Profit Accounting
Evolving Funding Landscape for Not-for-Profits Not-for-profit organizations are being asked to do more with less,…
Learn More
According to the Manpower survey, workforce additions during the third quarter are most likely in construction, non-durable goods manufacturing, and finance, insurance and real estate. Public administrators plan cutbacks, while mixed readings are issued in durable goods manufacturing and the wholesale/retail trade.
Broken down by region, highlights of the Manpower survey include:
Northeast: Unusual seasonal patterns characterize the region. For two decades, the construction industry has been the clear third-quarter leader. This year it is overshadowed by wholesale and retail trades, where seasonal hiring is traditionally concentrated in the fourth quarter. So great is the increase in activity among wholesalers and retailers that the net hiring strength exceeds even most year-end periods. Construction, meanwhile, shows some improvement to a traditionally seasonal level after two sluggish quarters. Education employers normally concentrate most recruiting in the fourth quarter, so a seemingly low level forecast for this period is instead the most optimistic third quarter in the survey’s history by a large margin.
Midwest: After two quarters of marginal increases from the like periods of 1999, Midwestern employers now appear poised for a significant jump in net hiring strength. An important part of that gain comes from public administration, where government units anticipate their most active staffing since 1978, and from durable goods manufacturers, where third quarter prospects are stronger than those of three months earlier for the first time since 1992. Wholesale and retail trades have long made this season their prime annual hiring time in preparation for year-end holiday business, a need intensified by the staffing difficulty in recent years.
South: The southern region is the only one in the nation not forecasting all-time record hiring plans, having had an even greater need in the late 1970s. While moderate weather makes seasonality less of an issue, for the construction industry, prospects remain more positive than in like periods of recent years. Although durable goods manufacturers expect somewhat fewer additions than three months ago, the present level is nonetheless the brightest third quarter forecast in 16 years. Finance, insurance and real estate firms foresee a sharp increase in staffing after a succession of seven weaker quarters. Following a trend toward earlier activity to recruit holiday workers, wholesale and retail trades expects its most aggressive third quarter since 1978.
West: A steady climb in employment needs has propelled the West to an unprecedented level of net hiring strength. A robust construction industry is most positive, reaching activity reminiscent of the late 1970s. Job opportunities in government units have grown along with those of the private sector as public administration plans expand to the highest level since 1977, surpassing the near-record established only three months ago. It is more than two decades since wholesale and retail trades needed more workers in such abundance. However, sizeable declines from recent high levels are anticipated in education and in finance, insurance and real estate.
