Survey: Employers' hiring plans at record low

Hiring plans by US employers for the second quarter dropped to a record low, indicating the labor market will remain weak through the first half of the year, according to a private survey.

Manpower Inc, the world's second-largest provider of temporary workers, said its seasonally adjusted employment gauge for April through June plunged to minus 1 from 10 in the first quarter. That's the first time the measure has been negative, according to Manpower spokeswoman Bethany Perkins.

The US economy lost more than 600,000 jobs each month from December through February, the longest series of losses that big since records began in 1939. Rising unemployment is fueling cutbacks in the consumer spending that makes up about 70 percent of the economy, leaving companies hesitant to expand.