"U.S. employers' hiring plans for the fourth quarter remain cautious, and unwaveringly consistent from the previous six quarters, according to the latest Manpower Employment Outlook Survey, conducted before Hurricane Katrina wreaked its havoc.
Twenty percent of firms said they plan to hire in the fourth quarter, about flat from the 21% who planned to hire in the third quarter this year, and the 20% who said they'd hire in the fourth quarter a year ago."
My biggest takeaway was the words “about flat”. When things are flat they are not growing (duh). If this is true, why is everyone talking about the growth of the economy?
Actually, people are starting to figure it out. Here is another snippet from The Big Picture:
“The mainstream media is finally catching on to this -- note the difference between the upbeat press release title and the MarketWatch headline. Even more revealing, do a Google news search on the phrase "Manpower Hiring Survey;" -- you'll see the broad disparity in the regional expectations for new jobs, demonstrating how "lumpy" the present recovery actually is.”
While some news outlets might still be predicting that happy days are here again – we know the truth. The numbers don’t lie. Flat is flat.