Hiring outlook - not too bad

[Ricter]

"Hiring Outlook Improves in Major Economies: Manpower

(RTT News)

Employment prospects improved across most of the major economies, while employers in the U.S. said they expect recruitment activity to remain relatively stable during the September quarter, a leading survey revealed on Tuesday.

ManpowerGroup Inc said in its latest survey that the employers in the emerging markets of India and Brazil continued to report the strongest hiring intentions globally, while the German employers reported their most optimistic hiring expectations in four years.

Overall hiring plans for Italy and the U.K. remain subdued, while results for Canada and France are above the historical average. Hiring intentions remained below pre-recession levels in Japan and the U.S.

The year-over-year improvements across all major geographies are good news, ManpowerGroup CEO chairman Jeffrey A. Joerres said. Additionally, the emerging markets continue their optimism. "This is not to say that companies are not remaining somewhat cautious, but they are steadily coming off the 'no change' fence," Joerres said.

According to the Manpower report, third quarter hiring expectations are positive in 35 of 39 countries and territories, with net employment outlooks improving quarter-over-quarter in 20 countries and territories and in 24 compared to 12 months ago.

Hiring plans for the next three months are strongest in India, Brazil, Taiwan, Turkey and Singapore, while those in Spain, Greece, Italy and Ireland are the weakest and only negative forecasts reported."

 

[Max E.]

I see we have locked ourselves into a battle of economic, Dueling Banjos.



<iframe width="425" height="349" src="http://www.youtube.com/embed/Os7RV5N9VLs" frameborder="0" allowfullscreen></iframe>

 

[Artful D0dger]

So basically all the heavily managed, more planned/socialized/less free economies with higher taxes are having a harder time recovering, and the more free, less centrally planned and managed economies are recovering quicker. Gee, imagine that. LOL!

Quote from Ricter:



Hiring plans for the next three months are strongest in India, Brazil, Taiwan, Turkey and Singapore, while those in Spain, Greece, Italy and Ireland are the weakest and only negative forecasts reported."

 

[Ricter]

Industrial production, up. Capacity utilization, flat and not bad.

We're slogging for sure, but we are moving forward.

"Production - M/M change 0.0 % 0.2 % 0.0 % to 0.4 % 0.1 %
Capacity Utilization Rate - Level 76.9 % 76.7 % 77.0 % 72.2 % to 77.1 % 76.7 %

Highlights
Industrial production posted a modest rise in May but was held back by a drop in utilities. Manufacturing improved moderately but was quite strong outside of autos. Overall industrial production in May edged up 0.1 percent, following no change in April (originally unchanged). The market median forecast was for a 0.2 percent gain.

However, manufacturing made a comeback, rebounding 0.4 percent in May, following a 0.5 percent fall the prior month. April auto production had been constrained by shortages of parts from Japan related to the March earthquake and tsunami and this damping effect appears to have continued into May with motor vehicle assemblies essentially flat. Excluding motor vehicles, manufacturing advanced a robust 0.6 percent after a 0.1 percent dip in April.

Utilities dropped 2.8 percent after increasing 2.4 percent the month before. Mining output expanded 0.5 percent after a 0.8 percent boost in April.

On a year-on-year basis, overall industrial production slowed to 3.4 percent from 4.7 percent in April.

Overall capacity utilization in May was unchanged at 76.7 percent and came in lower than the consensus estimate for 77.0 percent.

The details for the production report are quite encouraging as the headline number was weighed down by utilities and manufacturing excluding autos was very healthy. Taking into account that auto assemblies eventually will work around current parts shortages, forward momentum looks good and the national numbers for May are much more positive than the June numbers from the Empire State report.

The traditional non-NAICS numbers for industrial production may differ marginally from the NAICS basis figures.

Market Consensus Before Announcement
Industrial production in April was unchanged, following a 0.7 percent gain the prior month. Notably, manufacturing posted a 0.4 percent decline in April, following a 0.6 percent gain in March. The drop in manufacturing was led by auto assemblies which were weighed down by supply disruptions for parts from Japan. Outside of autos, the softening in manufacturing was not as severe. Excluding motor vehicles, manufacturing rose 0.2 percent after a 0.4 percent advance in March. Overall capacity utilization in April slipped to 76.9 percent from 77.0 percent the prior month. Looking ahead, the manufacturing component of industrial production is likely to be soft in May as production worker hours rose only 0.1 percent for the month. Regional manufacturing indexes also decelerated for May, including Philly and New York Fed indexes. "

 

[Eight]

Quote from Artful D0dger:

So basically all the heavily managed, more planned/socialized/less free economies with higher taxes are having a harder time recovering, and the more free, less centrally planned and managed economies are recovering quicker. Gee, imagine that. LOL!

Yeah, we're all supposed to cheer up and get on with the hiring so when our boats float up we'll pull up the centrally planned economies! That way all the Socialists can say that their bailouts and their "wealth spreading" really works!

 

[Ricter]

Quote from Eight:

Yeah, we're all supposed to cheer up and get on with the hiring so when our boats float up we'll pull up the centrally planned economies! That way all the Socialists can say that their bailouts and their "wealth spreading" really works!

Of all people, why are you whining? According to your logic there is no unemployment problem, only an unemployment insurance problem.

Yes, according to you, you're supposed to cheer and pull yourself up by the bootstraps. Got any lemons at home? Get busy.