October 15, 2008 9:50 AM

Time to be frightened?
Posted by Jesse Nunesat 9:50 AM

Forget the horror movies this Halloween, just stare at the wild fluctuations of your stock ticker instead. The tallest roller coaster in the world couldn't conjure the amount of stomach churning the markets have been inducing across the country over the past few weeks.

It's no secret that it's a tough time to be looking for a job. With the economy is as scary as ever, it's almost appropriate that the month that ends in a celebration of all things scary has been a horror show for US workers.

Will we see an employment turnaround before the end of the year? And will the holidays help? Employers typically ramp up their workforce in anticipation of the buying season. The hiring process for these full-time and part-time hourly seasonal jobs usually starts in October.

But this year, the number of available seasonal jobs will be sharply down, according to a survey by SnagAJob.com, a job search site that specializes in hourly employment. For those who rely on the employment opportunities afforded by the holiday job market, there will be fewer opportunities and greater competition.

According to the company's press release, the survey of 1,000 hourly hiring managers found that:

• On average, each manager expects to hire 3.7 seasonal employees, roughly 33 percent less than the 5.6 seasonal workers they each hired during last year's holiday period.
• The 3.7 seasonal employees expected to be hired includes the 57 percent
  of managers who say they don't plan on making any hires this year, which is
  up 8 percentage points from 2007.

• More people are expected to be applying for holiday jobs, according to
  hiring managers:
• Only 9 percent expect fewer applications
• Four in 10 (39%) expect the number of applicants to rise this year
• About one half (52%) expect the number to stay the same

So, for those who rely on seasonal jobs as part of their annual income, it could be tough going this year. And for those who work extra to be able to buy more gifts during the holidays, it could mean a lot less gifts for the loved ones, which in turn means less money spent at US businesses, which then could mean even fewer seasonal workers are needed. It's like getting off the roller coaster and heading straight for the tilt-whirl.

However, the survey does note that those who have the best chance of snagging a job during the holidays will be those who previously worked for the company they are applying to. So if you've been in the seasonal business before, you'll be in better shape than someone who's coming in cold.

Do you rely on seasonal work? Let us know in our weekly survey.

How has the economy affected your spending? Are you planning on spending less during the holidays this year? How much are you cutting your holiday budget by? Share your thoughts in our discussion forum.