Predictions that the economic sky will soon be falling continue to abound in Connecticut and nationally, but a new hiring outlook suggests that the remainder of this year will bring a continued positive job market, in the state and nationwide.
U.S. employers expect the hiring pace to remain positive in Q4 2019 with hiring intentions improving one percentage point compared to a year ago to 20%, according to the ManpowerGroup Employment Outlook Survey.
For the coming quarter in Connecticut, employers expect to hire at an upbeat pace of 14%. Among employers surveyed, 20 percent plan to hire more employees from October through December. This number is offset by the 6 percent that plan to reduce payrolls, while 73 percent of employers expect to maintain current staff levels and 1 percent indicate they are not sure of their hiring plans.
"Compared to last quarter’s Net Employment Outlook of 20%, Connecticut employers have reported a weaker hiring pace of 14%," said Betty Gooding, spokesperson for Manpower, a ManpowerGroup brand. "When looking at expectations from this time last year of 15%, hiring managers anticipate the upcoming season’s payrolls to remain stable.”
Employers in the Bridgeport-Stamford-Norwalk, MSA have expect a somewhat weaker hiring pace of 12%, compared with 16% a year ago. The Hartford-West Hartford-East Hartford, MSA employers have paralleled the statewide projections: 20% a year ago and a projected hiring pace of 14% in the upcoming 4th quarter. Compared to last quarter’s Net Employment Outlook of 23%, New Haven-Milford MSA employers have anticipate a hiring pace of 17%, exceeding the statewide expectation.
By industry for the coming months of October-December, employers are optimistic about anticipated hiring in Construction, Durable Goods Manufacturing, Nondurable Goods Manufacturing, Wholesale & Retail Trade, Information, Professional & Business Services, Education & Health Services, Leisure & Hospitality, Other Services, and Government. In contrast, local employers expect a decrease in payrolls in Transportation & Utilities and Financial Activities, according to the ManpowerGroup survey.
Employers in all four U.S. regions report weaker hiring plans when compared with the previous quarter. In the West, the Outlook (+19%) declines by 3 percentage points, while employers in the South (+18&) report a decrease of 2 percentage points. Hiring intentions are 1 percentage point weaker in the Midwest (+20%) and the Northeast (+18%).
Employers in Nevada (+25%), Utah (+25%), Kansas (+24%), and North Carolina (+24%) report the strongest Outlooks nationwide.
The ManpowerGroup Employment Outlook Survey is conducted quarterly to measure employers' intentions to increase or decrease the number of employees in their workforces during the next quarter. The ManpowerGroup Employment Outlook Survey's United States results are based on interviews with 11,500+ employers located in the 50 states, the District of Columbia and Puerto Rico.