Job Prospects to Remain Stable in Q4, According to CareerBuilder's Latest Forecast
CHICAGO, Oct. 3, 2013 /PRNewswire/ -- How will the job market shape up for the remainder of 2013? It will look a lot like last year. One in four employers (25 percent) plan to add full-time, permanent headcount in the fourth quarter, relatively unchanged from Q4 2012 (26 percent). Industries expected to outpace the national average for companies hiring include Information Technology (36 percent), Financial Services (32 percent) and Manufacturing (30 percent). Hiring among large healthcare organizations1 is expected to mirror the national average.
The national survey was conducted online by Harris Interactive© from Aug. 13 to Sept. 6, 2013, and included a representative sample of 2,099 hiring managers and human resource professionals across industries and company sizes.
"Consistent hiring has been the theme throughout this jobs recovery," said Matt Ferguson, CEO of CareerBuilder. "Economic concerns are still looming. Some headlines in the news need to play themselves out before employers fully mobilize to create a more active job market. Companies will continue to produce an even stream of new jobs in the fourth quarter as they assess their positioning and prospects for the coming year."
Hiring in Q3 2013
Twenty-eight percent of employers added full-time, permanent headcount in the third quarter. This is down from 32 percent last year and indicative of a market that, while stable, still wrestles with uncertainty. Eleven percent decreased headcount, compared to 12 percent in 2012. Sixty percent made no change to staff levels while 1 percent were unsure.
Hiring in Q4 2013
Looking ahead, 25 percent of employers plan to hire full-time, permanent employees, similar to the 26 percent of companies who planned to hire during the same period in 2012. Nine percent expect to downsize staffs, the same as last year. Sixty-one percent anticipate no change and five percent are undecided.
Thirty-two percent of employers plan to hire temporary or contract workers in the fourth quarter, relatively unchanged from 33 percent last year. Twenty-two percent reported that they will transition some temporary or contract staff into permanent employees before the end of the year.
Hiring By Company Size
Although small businesses continue to trail large organizations in the percentage of employers hiring, recruitment activity among companies of all sizes will remain relatively steady over the next three months.
- 50 or fewer employees - 15 percent plan to add full-time, permanent staff in Q4 compared to 16 percent last year; 8 percent expect to reduce headcount compared to 7 percent last year
- 250 or fewer employees - 18 percent plan to add full-time, permanent staff in Q4 compared to 20 percent last year; 9 percent expect to reduce headcount compared to 8 percent last year
- 500 or fewer employees - 20 percent plan to add full-time, permanent staff in Q4 compared to 21 percent last year; 9 percent expect to reduce headcount compared to 8 percent last year
- More than 500 employees - 32 percent plan to add full-time, permanent staff in Q4 compared to 34 percent last year; 11 percent expect to reduce headcount compared to 9 percent last year
Hiring By Region
Similar to previous surveys, the West remains the most optimistic in terms of hiring plans. The South saw the largest year-over-year decrease (four percentage points) in the number of employers expecting to recruit new talent in Q4, but is still slightly ahead of the Northeast and Midwest.
- West – 29 percent plan to add full-time, permanent staff in Q4 compared to 31 percent last year; 9 percent expect to reduce headcount compared to 7 percent last year
- South – 24 percent plan to add full-time, permanent staff in Q4 compared to 28 percent last year; 9 percent expect to reduce headcount compared to 8 percent last year
- Northeast – 23 percent plan to add full-time, permanent staff in Q4 compared to 24 percent last year; those reducing headcount remained at 10 percent
- Midwest – 23 percent plan to add full-time, permanent staff in Q4, the same as last year; 11 percent expect to reduce headcount compared to 10 percent last year
Totals may not equal 100 percent due to rounding.
1 Large healthcare organizations defined as those with 50 employees or more.
This survey was conducted online within the U.S. by Harris Interactive© on behalf of CareerBuilder among 2,099 hiring managers and human resource professionals (employed full-time, not self-employed, non-government) between Aug. 13 and Sept. 6, 2013 (percentages for some questions are based on a subset, based on their responses to certain questions). With a pure probability sample of 2,099, one could say with a 95 percent probability that the overall results have a sampling error of +/- 2.14 percentage points. Sampling error for data from sub-samples is higher and varies. For full survey methodology, including weighting variables, please contact firstname.lastname@example.org.
CareerBuilder is the global leader in human capital solutions, helping companies target and attract great talent. Its online career site, CareerBuilder.com®, is the largest in the United States with more than 24 million unique visitors, 1 million jobs and 50 million resumes. CareerBuilder works with the world's top employers, providing resources for everything from labor market and compensation intelligence to talent networks and other recruitment solutions. More than 10,000 national and niche sites, including 140 newspapers and broadband portals such as MSN and AOL, feature CareerBuilder's proprietary job search technology. Owned by Gannett Co., Inc. (NYSE: GCI), Tribune Company and The McClatchy Company (NYSE: MNI), CareerBuilder and its subsidiaries operate in the United States, Europe, South America, Canada and Asia. For more information, visit www.careerbuilder.com.
SOURCE Career Builder, Inc.