Sunday, September 14, 2008
Manpower Employment Outlook | Q4 2008
Manpower's latest employment projections suggest "continuing softness in hiring activity" during the fourth quarter of 2008. Overall, Manpower expects a Net Employment Outlook of +9%, meaning more hiring is expected than layoffs. In particular,
- 22% of employers expect staffing increases
- 13% of employers expect staffing reductions
Approximately 14,000 employers across the United States participated in this survey. Details of the survey can be found in a Manpower press release.
Massachusetts Employment Outlook
A closer looks at the data for Massachusetts suggests that not all regions of the state can expect to participate in this "continuing softness" equally. If fact, much of the Boston metro area can expect hiring rates better than the national average. With the exception of Boston proper, employers north and west of the city, as well as, along the South Shore, will be looking to add new employees at rates up to 10 times more frequently than those anticipating layoffs.
For example, employers along the 128 Corridor (Burlington to Waltham) report the following:
- 37% of employers expect staffing increases
- 3% of employers expect staffing reductions
This net change of +34% reveals that companies in this part of the Boston metro area will be most aggressive in their hiring plans.
Here is a chart of hiring expectations throughout Massachusetts for the 4th quarter of 2008:
Manpower provides a snapshot of Massachusetts' companies hiring plans (pdf) for the fourth quarter.
New England's Digital Industry
Workers looking for opportunities will likely improve their chances of success by targeting companies along the Route 128 Corridor. It is likely not a coincidence that many of the employees that make up New England's Digital Industry work at companies that have offices along Route 128.
Technology opportunities continue to lead employment growth. Workers with solid technology skills and a professional network that extends into technology companies should fair better than average in an economy that exhibits "continuing softness."