Fewer companies plan to hire, give raises

0 Comments | USA TODAY, July, 2008 | by John Waggoner and Barbara Hansen

Companies are slowing their hiring but not slamming on the brakes, says a survey released today.

Twenty-four percent of hiring managers said they planned to increase the number of full-time staff in the next three months, down from 29% forecast in the last survey for the second quarter, according to an online survey for USA TODAY and CareerBuilder.com by Harris Interactive.

And 9% of those surveyed expected to reduce the workforce at their company in the third quarter, up from 6% who planned to do so in the second quarter. "The numbers suggest that the labor market is deteriorating measurably," says Mark Zandi, chief economist for Moody's Economy.com.

Layoff plans were highest in the Northeast, where 11% of those surveyed said they planned to cut...