Fewer employers planning to hire
Only 20 percent of Honolulu companies plan to hire workers in the last quarter
The Honolulu job market is expected to cool somewhat during the last quarter of the year, according to a quarterly survey of employers released today by Manpower Inc.
Only 20 percent of the companies surveyed plan to hire more workers from October to December, compared with 43 percent of businesses that planned to hire in the third quarter.
"Hiring intentions among area employers are more modest than in the third quarter," said Sunny Ackerman, Manpower spokeswoman.
However, employer confidence about hiring remains stronger than it was a year ago, when none of the companies surveyed planned to increase staffing or reduce payrolls, she added.
Roughly 3 percent of employers plan to reduce payrolls in the fourth quarter while another 57 percent expect to maintain their existing workers. About 20 percent were unsure of their staffing plans.
Job prospects in the last quarter were expected to be best in non-durable goods manufacturing, transportation/public utilities and public administration. Employers in construction, finance/insurance/real estate, education and services expected hiring to remain the same.
Meanwhile, businesses in durable goods manufacturing were unsure of hiring plans while employers in wholesale/ retail trade had mixed views.
The pace of hiring nationwide in the fourth quarter were expected to remain the same as in the July to September quarter after seasonal adjustments were applied to the survey results -- though the pace will likely be slower than the same period last year, resulting in weaker hiring in 2007 compared to last year, the company said.
Manpower surveyed 14,000 employers nationwide, with 27 percent forecasting increased hiring in the fourth quarter, 9 percent anticipating a drop in staffing, 58 percent expecting no change and 6 percent undecided.