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Survey: Job market to hold steady in early 2010

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A survey found that the job market won’t be getting any worse, and that comes on the heels of news last Friday that the unemployment level unexpectedly dropped to 10 percent in November from a 26-year high of 10.2 percent in October.

The report found that 73 percent of companies surveyed expect no change in their first-quarter hiring plans, according to a CNNMoney.com article about a quarterly survey by Manpower Inc., an employment services company. Twelve percent expect to add workers, 12 percent expect to make cuts and 3 percent were still undecided.

The survey found a seasonally adjusted 6 percent hiring rate, which was an improvement in comparison to the negative 2 percent hiring rate during the fourth quarter of 2009. But still, the 6 percent rate is the worst first-quarter hiring pace since 1982. It is also down from the 9 percent hiring rate for the first quarter of 2009.

The Manpower said the survey reflects a positive change in employer sentiment because the first quarter is usually a seasonally slow hiring quarter, and it is unusual to see an increase over the fourth quarter. Also, Manpower said that there seems to be increased confidence from employers, because a record number of companies plan to keep staff levels stable.

Regionally, the survey found the South had the strongest hiring outlook at 7 percent, the Midwest expects 6 percent, the Northeast expects 3 percent, and the West 2 percent.