Hiring sees global downturn

Global employment researchers at Manpower Inc. said Tuesday hiring for the first quarter of 2009 will slow fastest in Singapore, India and Taiwan.

The Manpower Employment Outlook Survey, based on interviews with 71,000 employers, indicated employers in 30 of 33 countries and territories included in the survey expect hiring to be slower than they had projected three months ago.

The global employment picture for the first quarter of the new year is noticeably weaker and the vast majority of employers are telling us that they will take a ‘wait and see’ approach before hiring or further reducing staff, the Manpower report said.

Interestingly, the number of U.S. companies planning no change in their hiring intentions is considerably higher than during the 2001 recession, Manpower Chairman and Chief Executive Officer Jeffrey Joerres said.

This may suggest a much needed pause in downsizing in the first quarter, he said.

Employers in the Asia Pacific region, who last quarter were only starting to feel the impact of the downturn in the West, appear to be preparing themselves for a very difficult year.