Human resource professionals are showing increased faith in the job market for the third quarter, according to a survey released Thursday.
The Labor Market Outlook survey by the Society for Human Resource Management reported that 37 percent of respondents have some level of concern for the U.S. job market in the third quarter: 33 percent are somewhat pessimistic about job growth and anticipate job losses and 4 percent are very pessimistic and anticipate job cuts during the quarter.
This marks a reversal from the LMO’s second-quarter survey, when a combined 70 percent of respondents expressed some level of pessimism and predicted deeper cuts in the U.S. job market.
A total of 69 percent of respondents said they will either eliminate jobs or keep their payrolls flat in the third quarter: 56 percent will maintain current staffing levels and 13 percent will cut jobs. Among employer categories, 28 percent of large companies (those with 500 or more employees) will conduct layoffs in the third quarter.
During the second quarter, 81 percent of respondents said they either cut jobs or kept payrolls flat: 43 percent maintained their staffing levels while 38 percent conducted layoffs.
Alexandria, Va.-based Society for Human Resource Management is the world’s largest association devoted to human resource management and represents more than 250,000 members in over 140 countries.