Study: U.S. manufacturers expect 2010 hiring rebound

A new survey of small- to medium-sized U.S. manufacturers reveals that 44 percent of the companies expect to hiring new workers again – but not until an economic recovery. That won’t happen, says the report from RSM McGladrey, until 2009 has passed.

The manufacturing sector has lost 1.6 million jobs since the recession began.

The report comes from a survey of 923 manufacturers, which found that 40 percent of manufacturers said their businesses were still declining, 18 months after the current recession began, up from just 12 percent last year.

Only 9 percent characterized their current business as “thriving and growing,” down from 38 percent last year when the recession took hold, and nearly 50 percent back in 2007.

Sixty-two percent of the companies responding said they were girding for sales declines domestically. As a result, 52 percent said they planned to cut jobs in 2009, up from 26 percent last year.