No layoffs for most U.S. firms, says study
A new survey finds that most U.S. firms have already laid off as many employees as they plan to as a result of the Great Recession and the subsequent economic downturn.
No plans for layoffs
The survey by Right Management, a division of staffing giant Manpower Group, found that 69 percent of the employers surveyed had no plans to conduct any more layoffs for the duration of 2012. That is good news for those who already have jobs. Unemployment, however, still hovers at over eight percent.
Breaking it down
Right management polled 1,107 employers in the U.S. during the second quarter of the year. Of those surveyed, only 11 percent said they were planning some limited layoffs. Only one percent said they planned on conduction more significant layoffs.
Employees abroad even safer
The complete global study polled nearly 15,000 employers in 41 different nations. Despite the financial crisis in Europe, the survey found that a full 78 percent of those businesses based outside of the U.S. are planning no layoffs at all before 2013.
Another six percent of overseas employers said they could not predict layoffs six months in advance.
‘The appropriate level’
That means, according to Right Management, that employers have trimmed all the staff they plan to trim as a part of post-recession downsizing.
Owen Sullivan, the chief operation officer of Right Management, said:
“Our findings suggest that most organizations have already taken significant action over the past two to three years to reduce headcount to what they believe is the appropriate level.”
No comparative data
However, as pointed out by MSNBC, it is Right Management’s first such poll. Therefore there is no comparative data to determine if the finding are a trend or a fluke.
Some are losing jobs
However, current data from the Bureau of Labor Statistics showed a spike in unemployment applications. That indicates a significant amount of people leaving the workforce. Some of that, according to MSNBC, is attributable to seasonal fluctuations in the job market.
Too little, too slow
The reduction of layoffs is welcome news to the nation’s economy, but it barely scratches the surface of what is needed to grow the economy. With unemployment at 8.2 percent and only 80,000 new jobs being added to the nation, hiring needs to pick up considerably before real growth is seen.