HR Professionals Concerned About Job Growth

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04.16.09

HR Professionals Concerned About Job Growth

By Mike Sachoff

Nearly three-quarters (70%) of HR professionals have some level of concern for the U.S. job market in the second quarter of this year, according to a new Labor Market Outlook survey by the Society For Human Resource Management (SHRM).

The survey found 49 percent of HR professionals are somewhat pessimistic about job growth in the second quarter of 2009 and anticipate increased job losses, and another 21 percent are very pessimistic and expect job cuts during the quarter.

Nearly 70 percent of respondents will either eliminate jobs or keep their payrolls flat in the second quarter of 2009 (52% will maintain their staffing levels, 17% will cut jobs).

A total of 84 percent of respondents either cut jobs or kept payrolls flat in the first quarter of 2009 (45% maintained staffing levels, 39% conducted layoffs). That marked a decline in hiring activity from the fourth quarter of 2008, when 76 percent of respondents either cut jobs or kept payrolls flat (44% maintained staffing levels, 32% decreased staff).

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Going forward, HR professionals are not indicating much faith in a rebound for the U.S. labor market. Only 1 percent said they were very optimistic that there will be job growth in the second quarter of 2009.

Fourteen percent said they were somewhat optimistic about increases in job growth, and another 14 percent said they were neither optimistic nor pessimistic about job growth in the second quarter.

"Economists and labor market observers have varying viewpoints as to when the labor market will start its recovery," the survey concluded.

"Most are not calling for a rebound until 2010 at the earliest, and that will depend, in part, on the effectiveness of the stimulus package approved by Congress in February."

About the Author:
Mike is a staff writer for WebProNews. Visit WebProNews for the latest ebusiness news.

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