1st Quarter 2005

Manpower Employment Outlook Survey

United States

Manpower Inc., 5301 N. Ironwood Rd., Milwaukee, WI 53217

Tel: 414 961 1000
www.us.manpower.com

© 2005, Manpower Inc. All rights reserved.

C O M M A J O B N o : 162482

E & O E. THESE PROOFS HAVE BEEN READ AND CHECKED,

B U T F I N A L R E S P O N S I B I L I T Y R E S T S W I T H T H E C L I E N T.
C L I E N T: M A N P O W E R ORDER No:

READER
S U B J E C T: U S A M E O S T E M P L AT E :
D O C U M E N T N A M E : 162482 USA Q105 COVER
S TO R E D : N O V E M B E R PA G E N o : 1
T Y P E FA C E S : H E LV N E U E , VA R I O U S D AT E : 1 5 . 1 1 . 0 4

DESIGNER/OPERATOR
PROOF: FIRST PROOF SIZE: 80%
P U B L I C AT I O N : N / A
SIZE: 11” x 8.5” SCREEN:
P U B L I C AT I O N D AT E : N / A COLOUR DEADLINE:
12 Dorset Street • London W1U 6QS • Tel 020 7935 4554 • Fax 020 7935 4204 • ISDN 020 7224 1325
Contents
United States Employment Outlook 2
Regional Comparisons
Sector Comparisons

Global Employment Outlook 14

International Comparisons – Americas
International Comparisons – Asia Pacific
International Comparisons – Europe

About the Survey 19

About Manpower 20

1
Manpower Employment Outlook Survey USA

The United States Employment Outlook

Nearly 16,000 interviews have been conducted with
employers across the United States to measure
anticipated employment trends between January and
March 2005. All participants were asked, “How do you
anticipate total employment at your location to change
in the three months to the end of March 2005 as
compared to the current quarter?”
Twenty-four percent of the U.S. employers that were
polled anticipate an increase in hiring activity for the first
quarter of 2005, while 10% expect to decrease staff
levels. Fifty-nine percent of employers surveyed foresee
no change in job prospects, while 7% are unsure of
their hiring plans.
The survey’s historical data show that the impact of
seasonal variations is most apparent during the first
quarter of the year. This explains why, without seasonal
adjustments to the data, the Net Employment Outlook
indicates a drop-off in hiring activity from the fourth
quarter of 2004. When seasonal variations are removed,
however, the outlook for the first three months of 2005
reveals that employer confidence is expected to inch
upward from last quarter.
Although the increase is by a very small margin, it
represents the first time in three quarters that
employers have indicated any change in their hiring
intentions. The outlook for the coming quarter is much
brighter than it was a year ago at this time. Employer
confidence levels continue to rival those last seen in the
beginning months of 2001.
Throughout this report, we use the term “Net
Employment Outlook.” This figure is derived by taking
the percentage of employers anticipating an increase in
hiring activity and subtracting from this the percentage
of employers that expect to see a decrease in
employment at their location in the next quarter.

Net Employment Seasonally

Increase Decrease No Change Don’t Know
Outlook Adjusted
% % % % % %
1st Quarter 2005 24 10 59 7 14 21
4th Quarter 2004 28 7 60 5 21 20
3rd Quarter 2004 30 6 59 5 24 20
2nd Quarter 2004 28 6 62 4 22 20
1st Quarter 2004 20 13 61 6 7 14

35

30

25

20

15

10

0
Net Employment Outlook Seasonally Adjusted
-5
’89 ’90 ’91 ’92 ’93 ’94 ’95 ’96 ’97 ’98 ’99 ’00 ’01 ’02 ’03 ’04 ’05

The results of the Manpower Employment Outlook Survey in the United States include Puerto Rico.

2
On a seasonally adjusted basis, employers in five of the
10 industry sectors surveyed plan to keep hiring activity
relatively consistent with the final months of 2004. They
include Durable Goods Manufacturing, Non-Durable
Goods Manufacturing, Transportation/Public Utilities,
Wholesale/Retail Trade and Services.
Job prospects in Mining, Construction, Finance/
Insurance/Real Estate and Public Administration are
expected to improve from fourth quarter, while Education
employers plan to slightly decrease the hiring pace in
the new year.
Employers in all 10 industry sectors are more optimistic
about hiring going into 2005 than they were approaching
2004, especially those in Mining, Durable Goods
Manufacturing, Transportation/Public Utilities, Finance/
Insurance/Real Estate and Public Administration.

Net Employment Seasonally

Increase Decrease No Change Don’t Know
Outlook Adjusted
% % % % % %
Construction 21 14 59 6 7 24
Education 15 5 74 6 10 10
Finance, Insurance & Real Estate 26 3 64 7 23 24
Manufacturing – Durables 28 9 57 6 19 23
Manufacturing – Non-Durables 24 8 62 6 16 20
Mining 27 6 63 4 21 26
Public Administration 17 7 66 10 10 13
Services 24 7 62 7 17 21
Transportation & Public Utilities 25 7 61 7 18 20
Wholesale & Retail Trade 23 17 54 6 6 23

At the overall national level, the margin of error on the data is +/– 0.8%.

Employment activity in two of the four U.S. regions – Hiring intentions across the four regions were decidedly
the Northeast and the West – is expected to stay the more conservative last year at this time.
same in the beginning months of the new year as it
The job forecast for the first quarter of 2005 is the
was in the fourth quarter of 2004. Employers in the
strongest in the South. Employer optimism in the
South plan a mild improvement in first quarter job
Northeast trails the other three regions for the fourth
prospects, while those in the Midwest anticipate a
consecutive quarter.
decline in payrolls, albeit on a very small scale.

Net Employment Seasonally

Increase Decrease No Change Don’t Know
Outlook Adjusted
% % % % % %
Midwest 21 11 64 4 10 19
Northeast 21 10 61 8 11 18
South 26 9 58 7 17 23
West 26 10 55 9 16 22

3
Manpower Employment Outlook Survey USA

Regional Comparisons
Midwest
In the Midwest, 21% of employers surveyed anticipate
an increase in payrolls for the first quarter of 2005, while
11% plan to reduce staff levels. This creates a Net
Employment Outlook of 10%. According to the seasonally
adjusted data, Midwest employers anticipate little change
in their first quarter hiring, compared with the final
months of 2004. Job prospects a year ago were much
weaker than those predicted for the coming quarter.
Job seekers are likely to find mixed staffing intentions
among employers in the Midwest. Those in the Mining,
Finance/Insurance/Real Estate, Public Administration
and Services sectors plan to step up the hiring pace
from fourth quarter, while job prospects in
Transportation/Public Utilities and Education are
expected to soften. Durable and Non-Durable Goods
Manufacturing, Construction and Wholesale/Retail
Trade employers plan to hold steady with hiring levels
similar to fourth quarter.

Net Employment Seasonally

Increase Decrease No Change Don’t Know
Outlook Adjusted
% % % % % %
All Industries 21 11 64 4 10 19
Construction 12 19 65 4 -7 18
Education 9 7 81 3 2 3
Finance, Insurance & Real Estate 24 3 68 5 21 22
Manufacturing – Durables 29 9 58 4 20 24
Manufacturing – Non-Durables 23 9 63 5 14 19
Mining 33 17 50 0 16 27
Public Administration 13 9 71 7 4 10
Services 23 8 64 5 15 20
Transportation & Public Utilities 22 7 68 3 15 18
Wholesale & Retail Trade 18 18 60 4 0 22

35

30

25

20

15

10

0
Net Employment Outlook Seasonally Adjusted
-5
’89 ’90 ’91 ’92 ’93 ’94 ’95 ’96 ’97 ’98 ’99 ’00 ’01 ’02 ’03 ’04 ’05

The Midwest Region comprises the following states: Illinois, Indiana, Iowa, Kansas, Michigan, Minnesota, Missouri, Nebraska, North Dakota, Ohio,
South Dakota, Wisconsin.

4
Northeast
Of the employers surveyed in the Northeast, 21% plan
to increase job opportunities in the first three months of
2005, while 10% anticipate a reduction in staff levels,
resulting in a Net Employment Outlook of 11%. When
seasonal variations are removed from the data, the job
forecast for the Northeast is the same as it was in the
past two surveys.
Employers in the Northeast are not as optimistic about
first quarter hiring as those in the other U.S. regions, a
position they have held since the second quarter of
2004. Even so, hiring expectations for the Northeast
are stronger than they were a year ago at this time.
The hiring pace in the Construction, Public
Administration and Mining sectors is expected to
strengthen in the first quarter, compared with the final
period of 2004. Wholesale/Retail Trade,
Finance/Insurance/Real Estate, Education and Services
employers predict little change in hiring activity, while
those in Durable and Non-Durable Goods
Manufacturing and Transportation/Public Utilities
anticipate slightly softer job prospects.

Increase Decrease No Change Don’t Know Net Employment Seasonally

Outlook Adjusted
% % % % % %
All Industries 21 10 61 8 11 18
Construction 17 16 60 7 1 21
Education 15 2 78 5 13 12
Finance, Insurance & Real Estate 25 5 64 6 20 22
Manufacturing – Durables 21 9 62 8 12 17
Manufacturing – Non-Durables 23 7 64 6 16 19
Mining 25 0 75 0 25 20
Public Administration 12 9 67 12 3 5
Services 21 8 62 9 13 19
Transportation & Public Utilities 21 8 60 11 13 14
Wholesale & Retail Trade 24 16 53 7 8 21

30

25

20

15

10

-5
Net Employment Outlook Seasonally Adjusted
-10
’89 ’90 ’91 ’92 ’93 ’94 ’95 ’96 ’97 ’98 ’99 ’00 ’01 ’02 ’03 ’04 ’05

The Northeast Region comprises the following states: Connecticut, Maine, Massachusetts, New Hampshire, New Jersey, New York, Pennsylvania,
Rhode Island, Vermont.

5
Manpower Employment Outlook Survey USA

South
In the South, 26% of the employers polled anticipate an
increase in job levels, while 9% plan to slow the hiring
pace. This results in a Net Employment Outlook of 17%,
the strongest of the U.S. regions surveyed.
On a seasonally adjusted basis, job seekers in the
South can expect to see a mild improvement in hiring
activity, compared with fourth quarter, and an even
stronger hiring pace than a year ago.
Employers in six of the 10 industry sectors in the South
are more positive about hiring in the first quarter than
they were in the fourth quarter of 2004. They include
Construction, Public Administration, Durable Goods
Manufacturing, Transportation/Public Utilities,
Finance/Insurance/Real Estate and Mining. Job
prospects in Non-Durable Goods Manufacturing,
Wholesale/Retail Trade and Services are likely to remain
the same, while those in the Education sector are
expected to decline sharply.

Net Employment Seasonally

Increase Decrease No Change Don’t Know
Outlook Adjusted
% % % % % %
All Industries 26 9 58 7 17 23
Construction 27 10 56 7 17 28
Education 16 6 69 9 10 11
Finance, Insurance & Real Estate 26 3 62 9 23 22
Manufacturing – Durables 29 10 56 5 19 24
Manufacturing – Non-Durables 24 8 62 6 16 19
Mining 25 6 63 6 19 23
Public Administration 20 4 62 14 16 18
Services 28 7 57 8 21 23
Transportation & Public Utilities 25 8 60 7 17 19
Wholesale & Retail Trade 26 16 51 7 10 25

30

25

20

15

10

0
’89 ’90 ’91 ’92 ’93 ’94 ’95 ’96 ’97 ’98 ’99 ’00 ’01 ’02 ’03 ’04 ’05
Net Employment Outlook Seasonally Adjusted

The South Region comprises the following states: Alabama, Arkansas, Delaware, District of Columbia, Florida, Georgia, Kentucky, Louisiana,
Maryland, Mississippi, North Carolina, Oklahoma, South Carolina, Tennessee, Texas, Virginia, West Virginia.

6
West
Among employers surveyed in the West, 26% foresee
an increase in employment, while 10% anticipate a
reduction in their payrolls, which equals a Net
Employment Outlook of 16%. According to the
seasonally adjusted survey results, this marks the third
consecutive quarter that employers in the West have
predicted the same steady hiring pace. Last year at this
time, they were not as positive in their hiring intentions
for the first quarter.
Job candidates can expect to find a healthy hiring pace
throughout the West, with the strongest quarter-over-
quarter improvement in job prospects likely to occur in
the Mining, Education, Wholesale/Retail Trade and
Finance/Insurance/Real Estate industries. Little change
in employment activity is planned for the
Transportation/Public Utilities and Services industries,
while more conservative hiring plans are in store for the
Durable and Non-Durable Goods Manufacturing,
Construction and Public Administration sectors.

Net Employment Seasonally

Increase Decrease No Change Don’t Know
Outlook Adjusted
% % % % % %
All Industries 26 10 55 9 16 22
Construction 24 16 53 7 8 23
Education 23 3 67 7 20 19
Finance, Insurance & Real Estate 32 4 53 11 28 28
Manufacturing – Durables 32 9 50 9 23 25
Manufacturing – Non-Durables 24 9 58 9 15 18
Mining 29 6 65 0 23 29
Public Administration 19 7 67 7 12 14
Services 25 7 58 10 18 23
Transportation & Public Utilities 31 7 55 7 24 24
Wholesale & Retail Trade 27 18 45 10 9 22

35

30

25

20

15

10

0
Net Employment Outlook Seasonally Adjusted
-5
’89 ’90 ’91 ’92 ’93 ’94 ’95 ’96 ’97 ’98 ’99 ’00 ’01 ’02 ’03 ’04 ’05

The West Region comprises the following states: Alaska, Arizona, California, Colorado, Hawaii, Idaho, Montana, Nevada, New Mexico, Oregon,
Utah, Washington, Wyoming.

7
Manpower Employment Outlook Survey USA

Sector Comparisons
According to seasonally adjusted results, there is disparity
in first quarter hiring plans among the 10 industry sectors
surveyed. Mining employers are most intent on adding
to payroll, with expectations at a level not seen since
the early 1980s. Strong hiring plans are also apparent
in Construction, Finance/Insurance/Real Estate, Durable
Goods Manufacturing and Wholesale/Retail Trade.
On the other end of the spectrum, Public Administration
and Education employers are considerably more
reserved about the employment outlook, as they were
throughout 2004.

Construction 7
24

Education 10
10
23
Finance, Insurance & Real Estate
24
19
Manufacturing – Durables
23
16
Manufacturing – Non-Durables
20
21
Mining 26
10
Public Administration 13
17
Services 21
18
Transportation & Public Utilities 20
6
Wholesale & Retail Trade 23

0 5 10 15 20 25 30 35 40

Net Employment Outlook Seasonally Adjusted

8
Construction
After a moderate decline in the latter half of 2004,
Construction employers plan to pick up the hiring pace
during the first quarter of 2005, according to seasonally
adjusted data. Job prospects are expected to improve
slightly from last quarter and last year at this time.
Regionally, employers in the South are most confident
about adding to headcount, as they have been in 11
out of the last 12 quarters. Employers in the Midwest
anticipate slower hiring compared with the other three
regions.

40
35
30
25
20
15
10
5
0
-5
-10
-15 Net Employment Outlook Seasonally Adjusted
-20
’89 ’90 ’91 ’92 ’93 ’94 ’95 ’96 ’97 ’98 ’99 ’00 ’01 ’02 ’03 ’04 ’05

Education
Hiring ups and downs are expected to continue to For the first quarter, employers in the West are most
plague job seekers in the Education sector. Employer likely to add staff, and those in the Midwest have the
confidence trended upward for four consecutive weakest hiring intentions.
quarters and then began to fall in the fourth quarter of
2004, according to seasonally adjusted data. The
downward slide continues in the first quarter of 2005
with fewer employers intending to add to staff
compared with last quarter. The hiring pace is expected
to be stronger than last year at this time.

25
20
15
10
5
0
-5 Net Employment Outlook Seasonally Adjusted
-10
’89 ’90 ’91 ’92 ’93 ’94 ’95 ’96 ’97 ’98 ’99 ’00 ’01 ’02 ’03 ’04 ’05

9
Manpower Employment Outlook Survey USA

Finance, Insurance & Real Estate

When seasonal variations are removed from the data,
hiring activity in Finance/Insurance/Real Estate is
expected to be among the strongest of the 10 industry
sectors surveyed. Nearly 25 years have passed since
employers in this sector were so confident in their
job forecast.
As it has since the final months of 2003, employer
optimism continues its slow and steady climb.
Companies are somewhat more positive about hiring
than they were last quarter, and considerably more
confident about staffing plans compared with a year ago.
Employers in the West are most optimistic about hiring,
as was the case throughout 2004. The employment
outlook for the Midwest, Northeast and South is
identical.

25

20

15

10

0
’89 ’90 ’91 ’92 ’93 ’94 ’95 ’96 ’97 ’98 ’99 ’00 ’01 ’02 ’03 ’04 ’05
Net Employment Outlook Seasonally Adjusted

Manufacturing – Durable Goods

With one of the most positive employment outlooks,
Durable Goods Manufacturers expect to hire at a
steady pace from January to March, according to
seasonally adjusted data. Employer confidence is
identical to levels reported in the fourth quarter survey.
Compared with a year ago, job seekers should find
many more employers adding staff.
Regional comparisons also mirror the fourth quarter
survey results. Once again, employers in the West plan
to offer the most promising employment prospects,
while those in the Northeast are least likely to have
job openings.

35
30
25
20
15
10
5
0
-5 Net Employment Outlook Seasonally Adjusted
-10
’89 ’90 ’91 ’92 ’93 ’94 ’95 ’96 ’97 ’98 ’99 ’00 ’01 ’02 ’03 ’04 ’05

10
Manufacturing – Non-Durable Goods
Steady hiring intentions are apparent again this quarter There is little variation in employer confidence across
in Non-Durable Goods Manufacturing, according to the the regions. Job prospects are expected to be equal in
seasonally adjusted survey results. Hiring plans are the South, Midwest and Northeast, with the West only
consistent with those reported the last two quarters. slightly behind.
Employers are noticeably more upbeat about adding to
payroll than they were a year ago.

30
25
20
15
10
5
0
’89 ’90 ’91 ’92 ’93 ’94 ’95 ’96 ’97 ’98 ’99 ’00 ’01 ’02 ’03 ’04 ’05
Net Employment Outlook Seasonally Adjusted

Mining
When seasonal variations are removed from the data, For the first quarter, hiring intentions in Mining are
Mining employers are more optimistic in their hiring strongest in the West and weakest in the Northeast.
estimates than they have been since the early 1980s.
In addition, the employment outlook for Mining is the
strongest among industries surveyed. The hiring pace is
expected to be up from last quarter and significantly
more robust than last year at this time.

30
25
20
15
10
5
0
-5
-10
’89 ’90 ’91 ’92 ’93 ’94 ’95 ’96 ’97 ’98 ’99 ’00 ’01 ’02 ’03 ’04 ’05
Net Employment Outlook Seasonally Adjusted

11
Manpower Employment Outlook Survey USA

Public Administration
Employer confidence is on the rise in Public Administration.
According to seasonally adjusted data, government
employers expect a slight boost in the hiring pace over
fourth quarter, and a considerable increase in activity
compared with a year ago.
Job seekers may find their employment search takes
them South, where more employers expect to take on
staff. Employers in the Northeast have the most
conservative hiring plans.

30
25
20
15
10
5
0
-5 Net Employment Outlook Seasonally Adjusted
-10
’89 ’90 ’91 ’92 ’93 ’94 ’95 ’96 ’97 ’98 ’99 ’00 ’01 ’02 ’03 ’04 ’05

Services
Stability characterizes the recent hiring trend in the Job seekers in the South and West are likely to have
Services industry, according to seasonally adjusted the best employment prospects, while those in the
survey results. For the fourth consecutive quarter, the Northeast are expected to find fewer companies adding
employment outlook remains relatively consistent. to payroll.
Employers expect a modest improvement in staffing
plans from last year at this time.

30
25
20
15
10
5
0
’89 ’90 ’91 ’92 ’93 ’94 ’95 ’96 ’97 ’98 ’99 ’00 ’01 ’02 ’03 ’04 ’05
Net Employment Outlook Seasonally Adjusted

12
Transportation & Public Utilities
During the first quarter of 2005, Transportation/Public Employers in the West are most confident about hiring
Utilities employers expect the hiring pace to remain steady. for the January – March period, while those in the
When seasonal variations are removed from the data, Northeast are more reserved in their staffing plans.
the employment outlook is similar to last quarter. The
hiring picture is considerably rosier than a year ago.

25
20
15
10
5
0
Net Employment Outlook Seasonally Adjusted
-5
’89 ’90 ’91 ’92 ’93 ’94 ’95 ’96 ’97 ’98 ’99 ’00 ’01 ’02 ’03 ’04 ’05

Wholesale & Retail Trade

According to seasonally adjusted survey results, As was the case last quarter, job prospects are likely to
Wholesale/Retail Trade employers foresee a continued be similar across the regions. Employers in the South
pattern of steady hiring. The hiring pace has remained are most optimistic about job gains, while the hiring
consistent since the second quarter of 2004, and this pace is expected to be slightly slower in the Northeast
quarter is no exception. The employment outlook is than in other areas.
identical to last quarter, but shows modest
improvement from a year ago.
35
30
25
20
15
10
5
0
-5
-10 Net Employment Outlook Seasonally Adjusted
-15
’89 ’90 ’91 ’92 ’93 ’94 ’95 ’96 ’97 ’98 ’99 ’00 ’01 ’02 ’03 ’04 ’05

13
Manpower Employment Outlook Survey USA

Global Employment Outlook

Over 35,000 employers have been interviewed across
19 countries and territories to measure anticipated
employment trends between January and March 2005.
Employers in 17 of the 19 countries and territories
say they expect positive hiring activity in the coming
quarter, with 12 countries reporting stronger hiring
levels compared to one year ago. New Zealand and
Hong Kong employers once again reported the
strongest anticipated hiring trends for the quarter
ahead. Although employers in both Italy and Germany
are reporting negative Net Employment Outlooks for
this quarter, German employer confidence has
improved since the first quarter of 2004, whilst
employer confidence in Italy has decreased slightly
over the same period of time.
In the U.S., Canada and the UK, seasonally adjusted
results reveal continuing employer optimism and solid
hiring levels with all three countries recording year-
over-year improvements. Notably, Canadian and
American employers reported the strongest first-
quarter outlooks in four years.

Net Employment Outlook Qtr on Qtr Change

Americas Quarter 4 2004 Quarter 1 2005 Q4 2004 to Q1 2005
% %
Canada 13 (17)1 4 (18)1 -9 (1)1
Mexico 18 12 -6
United States 21 (20)1 14 (21)1 -7 (1)1

Net Employment Outlook Qtr on Qtr Change

Asia Pacific Quarter 4 2004 Quarter 1 2005 Q4 2004 to Q1 2005
% %
Australia 17 17 0
Hong Kong 25 26 1
Japan 11 13 2
New Zealand 29 30 1
Singapore 14 8 -6

Net Employment Outlook Qtr on Qtr Change

Europe Quarter 4 2004 Quarter 1 2005 Q4 2004 to Q1 2005
% %
Austria 4 1 -3
Belgium 7 5 -2
France 5 2 -3
Germany -2 -6 -4
Ireland 14 15 1
Italy -1 -1 0
Netherlands 6 3 -3
Norway 7 12 5
Spain 5 5 0
Sweden 9 5 -4
UK 18 (14)1 14 (18)1 -4 (4)1
1. Number in parentheses is Net Employment Outlook when adjusted to remove the impact of seasonal variations in hiring activity for Canada, the UK
and the United States.

14
International Comparisons – Americas
Over 21,000 interviews have been conducted across
the United States, Canada and Mexico to measure
anticipated employment trends between January and
March 2005. The overall regional outlook is positive
with employers in all three countries forecasting year-
over-year improvements.
Employment Outlook. U.S. and Canadian employers
reported their strongest first-quarter outlooks in four
years. Mexican employers expect to hire less in the
first quarter than they did at the close of 2004.
However, the hiring outlook is comparable to levels
reported at this time last year.

Based on the seasonally adjusted data, employers in

the United States posted the region’s strongest Net

Canada Mexico
50 50

40 40

30 30

20 20

10 10

0 0

-10 -10

-20 -20
2003 2004 2005 2003 2004 2005

Line shows seasonally adjusted data.

USA
50

40

30

20

10

-10

-20
2003 2004 2005

Line shows seasonally adjusted data.

15
Manpower Employment Outlook Survey USA

International Comparisons – Asia Pacific

Over 6,000 interviews have been conducted across
Asia Pacific to measure anticipated employment
trends between January and March 2005.
Continued positive hiring activity is expected in all of
the countries surveyed in Asia Pacific, with employers
in New Zealand reporting the most positive outlook.
Employers in Hong Kong also revealed optimistic
hiring intentions for the first three months of the year
with their strongest outlook in seven quarters.
Notably, Hong Kong’s Net Employment Outlook has
increased at every quarter since the establishment of
the survey. Singapore employers reported weaker
hiring activity compared to the previous quarter.
Employers in Japan revealed a considerable Net
Employment Outlook improvement year-over-year.
Employers in both Australia and Singapore reveal no
meaningful year-over-year changes in anticipated
hiring patterns.

Australia Hong Kong

50 50

40 40

30 30

20 20

10 10

0 0

-10 -10

-20 -20
2003 2004 2005 2003 2004 2005

Japan New Zealand

50 50

40 40

30 30

20 20

10 10

0 0

-10 -10

-20 -20
2003 2004 2005 2003 2004 2005

This country joined the survey in Q2 2004.

Singapore
50

40

30

20

10

-10

-20
2003 2004 2005

No bar indicates Net Employment Outlook of zero.

16
International Comparisons – Europe
Over 10,000 interviews have been conducted across
11 European nations to measure anticipated employment
trends between January and March 2005. The overall
regional Net Employment Outlook for Europe is
positive with only employers in Italy and Germany
continuing to reveal negative hiring intentions for the
quarter ahead. However, six of the 11 countries
anticipate decreases in year-over-year outlooks.
Employers in Ireland and the UK continue to report
the most buoyant hiring intentions in Europe with
Ireland reporting a considerable year-over-year
improvement. Employers in Norway are very upbeat
about first-quarter hiring intentions, reporting the
highest level ever recorded for the country. Employers
in Germany, although forecasting a negative outlook for
the quarter ahead, are less pessimistic than they were
in the first quarter of 2004. Notably, in the next three
months French employers are anticipating the weakest
hiring activity since the survey began in this country.

Austria Belgium
50 50

40 40

30 30

20 20

10 10

0 0

-10 -10

-20 -20
2003 2004 2005 2003 2004 2005

No bar indicates Net Employment Outlook of zero.

France Germany
50 50

40 40

30 30

20 20

10 10

0 0

-10 -10

-20 -20
2003 2004 2005 2003 2004 2005

17
Manpower Employment Outlook Survey USA

Ireland Italy
50 50

40 40

30 30

20 20

10 10

0 0

-10 -10

-20 -20
2003 2004 2005 2003 2004 2005

No bar indicates Net Employment Outlook of zero.

Netherlands Norway
50 50

40 40

30 30

20 20

10 10

0 0

-10 -10

-20 -20
2003 2004 2005 2003 2004 2005

Spain Sweden
50 50

40 40

30 30

20 20

10 10

0 0

-10 -10

-20 -20
2003 2004 2005 2003 2004 2005

UK
50

40

30

20

10

-10

-20
2003 2004 2005

Line shows seasonally adjusted data.

18
About the Survey
The Manpower Employment Outlook Survey is conducted
quarterly to measure employers’ intentions to increase or
decrease the number of employees in their workforce during
the next quarter. The survey has been running for more than
40 years and is one of the most trusted surveys of employment
activity in the world. Various factors underpin the success of the
Manpower Employment Outlook Survey:
Unique: It is unparalleled in its size, scope, longevity and area
of focus.
Projective: The Manpower Employment Outlook Survey is the
only forward-looking survey, asking employers to forecast
employment over the next quarter. In contrast, other surveys
and studies focus on retrospective data to report on what
occurred in the past.
Focused: For more than four decades, the survey has derived
all of its information from a single question.
Independent: The survey is conducted with a representative
sample of employers from throughout the countries in which it
is conducted. The survey participants are not derived from
Manpower’s customer base.
Robust: The survey is based on interviews with more than
35,000 public and private employers across 19 countries and
territories to measure anticipated employment trends each
quarter. This sample allows for analysis to be performed across
specific sectors and regions to provide more detailed information.
Methodology
The Manpower Employment Outlook Survey is conducted using
a validated methodology, in accordance with the highest
standards in market research. The research team for the 19
countries and territories where the survey is currently conducted
includes Manpower’s Market Intelligence team; the Organization
Research and Analysis Division of Right Management
Consultants – an independent operating division of Manpower
Inc.; NOP World and Grupo IDM. The survey has been
structured to be representative of each national economy. The
margin of error for all national, regional and global data is not
greater than +/- 4.1%.
In the United States, the national survey is conducted by
Manpower’s North American Market Intelligence Team and
includes 16,000 employers. With this number of interviews, the
margin of error for the United States survey is +/- 0.8%.
19
Survey Question
All employers participating in the survey worldwide are asked the
same question, “How do you anticipate total employment at your
location to change in the three months to the end of March 2005
as compared to the current quarter?”
Net Employment Outlook
Throughout this report, we use the term “Net Employment
Outlook”. This figure is derived by taking the percentage of
employers anticipating an increase in hiring activity and
subtracting from this the percentage of employers that expect to
see a decrease in employment at their location in the next quarter.
The result of this calculation is the Net Employment Outlook.
Seasonal Adjustment
Seasonal adjustments have been applied to the data for
Canada, the United States and United Kingdom to provide
additional insight into the survey data. These adjustments make
it possible to review the data without the employment
fluctuations that normally occur at the same time each year, thus
providing a clearer picture of the data over time. Manpower
intends to add seasonal adjustments to the data for other
countries in the future, as more historical data is compiled.
History of the Survey
1962 1st generation of the Manpower Employment Outlook
Survey launched in the United States and Canada.
1966 Manpower’s UK operation launches the equivalent of the
United States survey, naming the report the Quarterly
Survey of Employment Prospects. The survey adopts the
same forward-looking research format as the United States
survey and is the first of its kind in Europe.
1976 2nd generation of Manpower’s Employment Outlook
Survey launched in the United States and Canada.
Research methodology is updated to evolve with
advancements in the field of market research.
2002 Manpower UK’s Quarterly Survey of Employment
Prospects is updated to adopt an enhanced research
methodology. Manpower’s operations in Mexico and
Ireland launch the survey in their respective countries.
2003 3rd generation of the Manpower Employment Outlook
Survey is launched, expanding the program to a total 18
countries and territories worldwide: Australia, Austria,
Belgium, Canada, France, Germany, Hong Kong, Ireland,
Italy, Japan, Mexico, Netherlands, Norway, Singapore,
Spain, Sweden, United Kingdom and United States.
2004 Manpower operations in New Zealand launch the
Manpower Employment Outlook Survey.
Manpower Employment Outlook Survey USA

About Manpower Inc.

Manpower Inc. (NYSE: MAN) is a world leader in the employment
services industry, offering customers a continuum of services to
meet their needs throughout the employment and business cycle.
The company specializes in permanent, temporary and contract
recruitment; employee assessment; training; career transition and
organizational consulting services. Manpower’s worldwide
network of 4,300 offices in 67 countries and territories enables
the company to meet the needs of its 400,000 customers per
year, including small and medium size enterprises in all industry
sectors, as well as the world’s largest multinational corporations.
The focus of Manpower’s work is on raising productivity through
improved quality, efficiency and cost-reduction, enabling
customers to concentrate on their core business activities.
In addition to the Manpower brand, the company operates under
the brand names of Right Management Consultants, Jefferson
Wells, Elan and Brook Street. More information on Manpower Inc.
is available at www.manpower.com.

In the United States, Manpower offers businesses a range of

HR services, in addition to providing administrative, industrial
and contact center personnel. Under the Manpower
Professional brand, the company places contract professionals
on assignment in areas such as information technology,
scientific, finance, engineering and telecommunications. More
information about Manpower’s US operation can be found at
www.us.manpower.com.

20
 1st Quarter 2005

Manpower Employment Outlook Survey

United States

Manpower Inc., 5301 N. Ironwood Rd., Milwaukee, WI 53217

Tel: 414 961 1000
www.us.manpower.com

© 2005, Manpower Inc. All rights reserved.

C O M M A J O B N o : 162482

E & O E. THESE PROOFS HAVE BEEN READ AND CHECKED,

B U T F I N A L R E S P O N S I B I L I T Y R E S T S W I T H T H E C L I E N T.
C L I E N T: M A N P O W E R ORDER No:

READER
S U B J E C T: U S A M E O S T E M P L AT E :
D O C U M E N T N A M E : 162482 USA Q105 COVER
S TO R E D : N O V E M B E R PA G E N o : 1
T Y P E FA C E S : H E LV N E U E , VA R I O U S D AT E : 1 5 . 1 1 . 0 4

DESIGNER/OPERATOR
PROOF: FIRST PROOF SIZE: 80%
P U B L I C AT I O N : N / A
SIZE: 11” x 8.5” SCREEN:
P U B L I C AT I O N D AT E : N / A COLOUR DEADLINE:
12 Dorset Street • London W1U 6QS • Tel 020 7935 4554 • Fax 020 7935 4204 • ISDN 020 7224 1325