Report: Job market worst since early ’90s. Three out of four employers expect to cut jobs or hold off on hiring this summer, contributing to the worst employment market since the early 1990s, according to the results of a new national survey of 16,000 employers by Manpower Inc. About two-thirds of employers said they don’t expect to hire additional workers and 9 percent plan to eliminate jobs during the July-to-September quarter, according to the poll. Although 20 percent of employers plan to add jobs, competition for work is expected to be high. Six percent are uncertain about their employment plans. [Business]
I’m wondering if the big run up of the stock market is climbing a wall of fear. With unemployment level or going higher, we seem to be having a jobless recovery. It will help companies but not workers.