U.S. Unemployment Rate Plateaus, As Hiring Speeds Up

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"The world is reacting in a hyperbolic manner to the unverified saw-toothing in the employment numbers. When you look at the revised jobs numbers over the past three months, hiring activity paints a steady picture – which is exactly what you'd expect to see in a slow and tepid recovery, and is completely aligned with ManpowerGroup's forward-looking hiring confidence index and what more than 65,000 employers tell us they are seeing in their business: 'It's not great, but it's going ok,'" said Jeffrey A. Joerres, ManpowerGroup Chairman and CEO. "The bottom line is that demand trumps economic uncertainty. The ripple effects of Europe's banking crisis don't help the situation, and companies that bolstered their workforce strategies have a critical edge during times like this.

"ManpowerGroup continues to see more employers revamp their approach to short- and long-term workforce development, but I can't warn employers enough to clamp down on pinpointing essential skills, needed today and in the future, and finding what we call 'The Teachable Fit' to develop them in existing workers and candidates," Joerres added. "When it's time to hire, scrambling to align the right talent is not an option for businesses seeking to remain competitive. A range of micro and macro factors affect accessibility to the right talent and these factors continue to evolve and curtail hiring plans without much notice."

Last month ManpowerGroup released the results of its Fourth Quarter Manpower Employment Outlook Survey, which found that U.S. employers expect hiring to remain relatively stable for the rest of the year. According to the seasonally adjusted survey results, the net employment outlook for this quarter is +7%, up from +6% during the same period last year and down from the +8% outlook during last quarter.

The survey is regularly used to inform the Bank of England's inflation reports. In addition, it is a regular data source for the European Commission, and is sourced by financial analysts and economists around the world to track job creation and industry growth.

ManpowerGroup's 2011 Talent Shortage Survey found that 52 percent of U.S. companies are struggling to fill key jobs, the highest percentage in the six-year history of the survey. ManpowerGroup advises companies to think long-term because the talent mismatch will inevitably worsen as demand for products and services increases.

About ManpowerGroup

ManpowerGroup™ (NYSE: MAN), the world leader in innovative workforce solutions, creates and delivers high-impact solutions that enable our clients to achieve their business goals and enhance their competitiveness. With over 60 years of experience, our $22 billion company creates unique time to value through a comprehensive suite of innovative solutions that help clients win in the Human Age. These solutions cover an entire range of talent-driven needs from recruitment and assessment, training and development, and career management, to outsourcing and workforce consulting. ManpowerGroup maintains the world's largest and industry-leading network of nearly 3,900 offices in over 80 countries and territories, generating a dynamic mix of an unmatched global footprint with valuable insight and local expertise to meet the needs of its 400,000 clients per year, across all industry sectors, small and medium-sized enterprises, local, multinational and global companies. By connecting our deep understanding of human potential to the ambitions of clients, ManpowerGroup helps the organizations and individuals we serve achieve more than they imagined – because their success leads to our success. And by creating these powerful connections, we create power that drives organizations forward, accelerates personal success and builds more sustainable communities. We help power the world of work. The ManpowerGroup suite of solutions is offered through ManpowerGroup™ Solutions, Manpower®, Experis™ and Right Management®. Learn more about how the ManpowerGroup can help you win in the Human Age at www.manpowergroup.com.

ManpowerGroup is the most trusted brand in the industry, being the only company in our industry to be named to the Ethisphere Institute's 2011 World's Most Ethical Companies list for our proven commitment to ethical business practices, including an outstanding commitment to ethical leadership, compliance practices and corporate social responsibility. In addition, ManpowerGroup has also been recognized as the industry leader by Fortune magazine, who named the company in first place on its 2011 list of the Most Admired Companies in the temporary help sector.

In January 2011, at the World Economic Forum Annual Meeting in Davos, Switzerland, ManpowerGroup announced the world has entered the Human Age, where talent has replaced capital as the key competitive differentiator. Learn more about this new age at www.manpowergroup.com/humanage

Gain access to ManpowerGroup's extensive thought leadership papers, annual Talent Shortage surveys and the Manpower Employment Outlook Survey, one of the most trusted indices of employment activity in the world, via the ManpowerGroup World of Work Insight iPad application. This thought leadership app explores the challenges faced by employers navigating the changing world of work and provides in-depth commentary, analysis, insight and advice on strategies for success.  

Follow ManpowerGroup Chairman and CEO Jeff Joerres on Twitter: twitter.com/manpowergroupjj. Joerres is one of only six Fortune 500 CEOs who leverages a Twitter account to get his message out.

SOURCE ManpowerGroup