The fruits of Republican Economic Theory (emphasis added):
The job market may get worse before it gets better, according to the latest Manpower survey of U.S. employers’ hiring plans. For the first time since the survey started in 1962, the seasonally adjusted net employment outlook — the number of firms hiring minus those firing workers — turned negative.
A net -1% of firms expect to hire in the April through June period, down from 10% in the first quarter and 15% for the second quarter a year ago, on a seasonally adjusted basis, according to Manpower’s quarterly survey. The previous low point was in 1982, when a net 1% of firms planned to hire in the third quarter.