A lot of prospective home buyers are nervous about purchasing a home in today’s economy, especially when hearing about the unstable job market and mass layoffs every couple of months. But here in Milwaukee, things are looking up! As the BizTimes Daily recently reported, our job market here in Milwaukee is one of the best in the nation. Read more about this promising report here:
The Milwaukee employment market is projected to be the fifth-best in the nation in the fourth quarter, according to the latest Manpower Employment Outlook Survey. From October to December, 18 percent of the companies in the Milwaukee-Waukesha-West Allis statistical market intend to hire more employees, while 7 percent expect to reduce their payrolls, yielding a net employment outlook of 11 percent. Another 70 percent expect to maintain their current staff levels and 5 percent are not certain of their hiring plans. “Employers are less optimistic about hiring plans for the final three months of the year compared to Quarter 3 2010 when the Net Employment Outlook was 17 percent,” said Manpower spokesperson Nicole Langley. “Employers expect a faster hiring pace compared with one year ago, when the Net Employment Outlook was 2 percent.”
Nationally, U.S. employers anticipate a slight gain 5 percent for the fourth quarter, according to Milwaukee-based Manpower Inc. This marks the fourth consecutive quarter of employment gains in the national gauge. A positive overall hiring outlook was reported in all four quarters of 2010, which followed three quarters with a negative outlook in 2009.
“Clearly there are signs of a softening labor market, but when we consider what we are hearing from our clients and by looking at our own business, there is reason to be cautiously optimistic,” said Manpower chairman and chief executive officer Jeff Joerres. “The hiring intentions for the fourth quarter are not enough to break through the labor market sound barrier that we’re all eagerly anticipating, as 71 percent of employers indicate no change in hiring.”
“After a period of very negative hiring sentiment in 2009, we have seen greater stability for the employed throughout 2010, although with only modest increases in hiring plans. This stability is an important platform to establish for more robust labor market growth in 2011,” said Jonas Prising, Manpower president of the Americas. “Looking back at where we were in 2009, the employment environment is more promising now, however many employers are still unsure about how the economy will fare and how robust the recovery will be. Until we move beyond this uncertainty, we are unlikely to see employers hire in a meaningful way, and this is evident in their consistently modest hiring plans.”