US hiring falls to lowest point in five years

Fewer US employers plan to hire in the fourth quarter, according to a private survey that shows the worst holiday-season job prospects on record at retailers.

Manpower Inc, the world's second-largest provider of temporary workers, said its employment gauge for October through December slumped to 9, the lowest level since 2003. The reading for stores and wholesalers was the weakest for any fourth quarter since Manpower began keeping track in 1972.

"Retailers are bracing themselves for a very weak holiday season," Jeffrey Joerres, chief executive officer of Milwaukee-based Manpower, said in an interview.