94% of Businesses Have No Plans to Eliminate Positions
Contrary to Talk of Recession, Hiring Spree Expected to Continue in 2019
TORONTO - March 13, 2019 // GLOBE NEWSWIRE // - In yet another sign that a recession is unlikely in 2019, the vast majority of businesses in a recent Express Employment Professionals survey reported that they have no plans to cut their workforces.
In the survey from Express, respondents were asked whether they planned to eliminate any positions during the second quarter of 2019. Ninety-four per cent said they had no such plans.
Express franchise owners report that the survey is consistent with what they are seeing in communities across the country.
“The local economy and surrounding market remain very positive with little evidence that a recession is looming in 2019,” said Michael Elliott, an Express franchise owner in London, Ontario. “We expect the pace of hiring to continue at the same rate as late 2018 as the local economy continues to see new investment from existing and new companies entering the region.”
Martin Labossiere, an Express franchise owner in Winnipeg, Manitoba, also reports that hiring is not expected to decrease; in fact, the exact opposite is anticipated.
“Overall, we are seeing more companies that will be increasing their workforce this year, driven in part by special projects or seasonal increases,” he said.
Both Elliott and Labossiere report that the big problem for business remains finding and retaining qualified workers.
“Most companies are enduring the pains of finding the right number of reliable workers to meet their production demands,” Elliott said. “Nevertheless, they remain optimistic and are seeking alternative means to complement their internal hiring process.”
“We are seeing that companies are struggling to reduce turnover and develop long term employees,” added Labossiere.
“After such a long stretch of job growth, it’s natural that fears of an inevitable recession would emerge,” said Bill Stoller, the CEO of Express. “But reports indicate we have a strong job market, a strong business environment and a positive outlook for the year.”
The survey of 491 businesses, which are current and former clients of Express Employment Professionals, was conducted in February 2019 to gauge respondents' expectations for the second quarter of 2019.
About Bill Stoller
William H. "Bill" Stoller is chairman and chief executive officer of Express Employment Professionals. Headquartered in Oklahoma City, the international staffing company has more than 800 franchises in the U.S., Canada and South Africa. Since its inception, Express has put more than 7.7 million people to work worldwide.
About Express Employment Professionals
Express Employment Professionals puts people to work. It generated $3.56 billion in sales and employed a record 566,000 people in 2018. Its long-term goal is to put a million people to work annually. For more information, visit ExpressPros.com.
SOURCE Express Employment Professionals