As the effects of the current financial crisis continue to spread, American employers are cutting back on plans to grow their businesses. Most now don’t plan to hire any new staff this year. Of 14,000 employers surveyed by Manpower in America 59 percent expect to make no changes to their workforce.

Only 22 percent of American employers expect to increase their payrolls during the October through December period, 13 percent expect to reduce their payrolls, and and 6 percent aren’t sure what they’re going to do.

Commenting on the results of the survey, Jeffrey A. Joerres, Chairman and CEO of Manpower, said:

“The continuing softness in hiring activity comes as no surprise as weakening market conditions are causing many companies to carefully adjust their hiring in line with the demand for their product or service.”

The only sector looking to increase workforce numbers is mining.

Construction, education and public administration look stable.

Manufacturing, transportation/public utilities, wholesale/retail trade, finance/Insurance/real estate and services all look negative, with businesses expecting reduced hiring activity.

“Despite the current business environment and the uncertainty that often comes with pending elections, the near-term employment outlook appears to have stabilised in some industry sectors and continues to grow in Mining, creating potential opportunity for job seekers,” said Jonas Prising, President of Manpower North America.

Employers in the Midwest and Northeast anticipate weakening hiring conditions, while the South is moderately less optimistic than it was last quarter. Employers in the West are slightly more optimistic about hiring plans in the upcoming quarter.