Manpower Inc reports through Reuters today that its expectations for third quarter jobs' is going to be weaker than already forecast. Weakest area's are expected to be construction, real estate, finance and insurance. Couple these with the industries that are supported by them (sales, lumber, home furnishings and appliances etc.) and your looking at a real different outlook to that posited by the government. Manpower states that it's seasonally adjusted outlook has dropped to 12, down from 14 last quarter, and 18 this time last year. All told, it states that its the weakest job outlook since 1991 in the mentioned sections. Weakest areas are to be Northeast, West and South, with slightly better outlook for the Midwest. That, however, doesn't take into account any further changes that will be drawn onto markets after gas pricing continues to rise.
More later!!!
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