MANPOWER INC.

2008 3

rd

QUARTER RESULTS

OCTOBER 21, 2008

Exhibit 99.2

2

Manpower Inc. 2008 3   Quarter Results

rd

Forward Looking Statement

This presentation includes forward-looking statements which are

subject to risks and uncertainties. Actual results might differ

materially from those projected in the forward-looking statements.

Forward-looking statements can be identified by words such as

“expect,”

“plan,”

“may,”

“will,”

and similar expressions.  Additional

information concerning factors that could cause actual results to

materially differ from those in the forward-looking statements is

contained in the Company’s Annual Report on Form 10-K dated

December 31, 2007, which information is incorporated herein by

reference, and such other factors as may be described from time to

time in the Company’s SEC filings.

3

Manpower Inc. 2008 3   Quarter Results

rd

380 bps

142% CC

Operating Profit

$21M

OP Margin

0.4%

Revenue

$5.7B

Gross Margin

18.1%

EPS ($.55)

7%

1% CC

27 bps

135%

91%

96% CC

Q3 Highlights

Throughout this presentation, the difference between reported variances and Constant Currency (CC) variances

represents the impact of currency on our financial results. Constant Currency is further explained on our Web site.

Consolidated Financial Highlights

(1)

Excludes the impact of the goodwill and intangible asset impairment from 2008 and the French payroll

tax change from 2007.

As

Reported

5% CC

7%

1% CC

30 bps

40 bps

3%

6%

12% CC

Excluding

Non-recurring

Items

(1)

4

Manpower Inc. 2008 3   Quarter Results

rd

18.13%

18.40%

15%

16%

17%

18%

19%

Q3 2007

Decrease in

Impact of

Payroll Tax

Changes

Temporary

Recruitment

Permanent

Recruitment

Mix -

Specialty

Q3 2008

- 0.12%

+ 0.28%

+ 0.14%

- 0.57%

Consolidated Gross Profit Margin Change

5

Manpower Inc. 2008 3   Quarter Results

rd

United States Segment

(9% of Revenue)

Q3 Financial Highlights

4%

OUP Margin

2.3%

250 bps

Revenue

$520M

OUP

$12M

50%

Operating

Unit

Profit

(OUP)

is

the

measure

that

we

use

to

evaluate

segment

performance.

OUP

is

equal

to

segment

revenues

less

direct

costs

and

branch

and

national

headquarters

operating

costs.

(1)

The results above include the impact of acquisitions.  On an organic basis, revenue decreased 10%.

(1)

6

Manpower Inc. 2008 3   Quarter Results

rd

France Segment

(33% of Revenue)

Q3 Financial Highlights

OUP Margin

3.5%

Revenue

$1.9B

OUP

$66M

1%

8% CC

40 bps

10%

18% CC

(1)

Excludes the impact of the French payroll tax change from 2007.

As

Reported

1%

8% CC

190 bps

34%

40% CC

(1)

Excluding

Non-recurring

Items

7

Manpower Inc. 2008 3   Quarter Results

Other EMEA Segment

(35% of Revenue)

Q3 Financial Highlights

OUP Margin

3.9%

Revenue

$2.0B

OUP

$76M

12%

8% CC

40 bps

2%

2% CC

(1)

(1)

The results above include the results of Vitae, which was acquired in April 2008.  On an organic basis,

revenue increased 10% in USD (6% in CC).

(1)

rd

8

Manpower Inc. 2008 3   Quarter Results

37%

21%

5%

16%

-17%

6%

25%

7%

26%

0%

-2%

17%

-9%

24%

16%

-6%

Other

Spain

Belgium

Netherlands

Germany

UK - Manpower

Elan

Nordics

Other EMEA –

Q3 Revenue Growth YoY

Revenue

Growth

-

CC

Revenue Growth

% of Segment

Revenue

18%

17%

13%

12%

10%

6%

17%

(1)

(1)

The Netherlands results include the results of Vitae, which was

acquired in April 2008.  On an organic

basis, revenue increased 10% in USD (1% in CC).

7%

rd

9

Manpower Inc. 2008 3   Quarter Results

Italy Segment

(7% of Revenue)

Q3 Financial Highlights

OUP Margin

7.8%

Revenue

$376M

OUP

$29M

12%

2% CC

50 bps

19%

9% CC

rd

10

Manpower Inc. 2008 3   Quarter Results

Jefferson Wells Segment

(1% of Revenue)

Q3 Financial Highlights

OUP Margin

-

2.1%

Revenue

$74M

OUP

$(2M)

10 bps

13%

N/A

rd

11

Manpower Inc. 2008 3   Quarter Results

34%

39% CC

Right Management Segment

(2% of Revenue)

Q3 Financial Highlights

OUP Margin

7.1%

Revenue

$108M

OUP

$8M

9%

8% CC

130 bps

rd

12

Manpower Inc. 2008 3   Quarter Results

Other Operations Segment

(13% of Revenue)

Q3 Financial Highlights

OUP Margin

1.9%

Revenue

$747M

OUP

$14M

13%

6% CC

90 bps

24%

32% CC

rd

13

Manpower Inc. 2008 3   Quarter Results

22%

5%

0%

-9%

16%

6%

15%

-5%

Other

Australia/NZ

Mexico

Japan

Other Operations –

Q3 Revenue Growth YoY

Revenue

Growth

-

CC

Revenue Growth

% of Segment

Revenue

34%

14%

13%

39%

rd

14

Manpower Inc. 2008 3   Quarter Results

Financial Highlights

rd

15

Manpower Inc. 2008 3   Quarter Results

Balance Sheet Highlights

Total Debt

($ in millions)

Total Debt to

Total Capitalization

Total Debt

Net Debt

rd

358

377

453

370

280

135

340

902

735

823

915

999

972

1,014

0

300

600

900

1,200

2004

2005

2006

2007

Q1

Q2

2008

Q3

29%

26%

25%

26%

26%

27%

26%

0%

10%

20%

30%

2004

2005

2006

2007

Q1

Q2

2008

Q3

16

Manpower Inc. 2008 3   Quarter Results

Interest

Rate

Maturity

Date

Total

Outstanding

Remaining

Available

Euro Notes:

- Euro 200M

4.86%

June 2013

281

-

- Euro 300M

4.58%

June 2012

422

-

Revolving Credit Agreement

5.71%

Nov 2012

141

480

A/R Securitization

3.06%

July 2009

73

27

Uncommitted lines and Other

Various

Various

55

312

Total Debt

972

819

Credit Facilities as of September 30, 2008

($ in millions)

(a)

(b)

(a)

(b)

$625M

multi-currency

Revolving

Credit

Agreement

provided

by

17

banks.

No

lender

represents

more

than

10%

of

the

total

amount.

As

of

September

30,

2008,

there

was

a

€100M

borrowing

under

the

Revolving

Credit

Agreement

which

has

been

swapped

to

a

fixed

rate

of

5.71%

until

July

2010.

New

borrowings

under

the

agreement

would

be

made

at

the

interbank

rate

for

the

relevant

currency

and

tenor

plus

a

credit

spread

based

upon

our

public

debt

rating.

At

September

30,

2008,

new

30-day

USD

borrowings

would

cost

4.32%

(30-day

LIBOR

plus

40

bps).

The

interest

rate

is

based

on

the

issuance

cost

of

commercial

paper

from

Citigroup

conduits

which

are

rated

A1+/P1

by

the

rating

agencies.

The

commercial

paper

is

sold

into

public,

private

or

bank

financing

markets.

Our

cost

of

funds

is

comprised

of

the

issuance

cost

for

this

commercial

paper

plus

a

commission

and

will

vary

based

on

market

and

interest

rate

conditions.

Represents

borrowings

under

uncommitted

lines

of

credit

&

overdraft

facilities,

which

total

$365M,

and

other

long-term

debt

of

$2M.

Total

subsidiary

borrowings

are

limited

to

$300M

due

to

restrictions

in

our

Revolving

Credit

Agreement,

with

the

exception

of

Q3

when

subsidiary

borrowings

are

limited

to

$600M.

(c)

(c)

rd

17

Manpower Inc. 2008 3   Quarter Results

Other

(36)

Change in Cash

94

(149)

22

*

2,231,610

shares

in

2008

and

4,944,200

shares

in

2007.

$11.5M

of

cash

paid

in

2008

was

for

shares

repurchased

in

2007.

Cash Flow Summary –

Nine Months

2008

2007

Cash from Operations

449

299

Capital Expenditures

(70)

(66)

Free Cash Flow

379

233

Share Repurchases *

(125)

(360)

Change in Debt

(224)

16

($ in millions)

Proceeds from Equity Plans

13

40

Acquisitions of Businesses,

net of cash acquired

(100)  

87

rd

18

Manpower Inc. 2008 3   Quarter Results

Fourth Quarter Outlook

Revenue

U.S.

Down 2-4%

France

Down

21-23%

(Down 15-17% CC)

Down

11-13%

Italy

(Down 4-6% CC)

Jefferson Wells

Right Management

Up 4-6%

(Up 7-9% CC)

Other

Up 5-7%

(Up 0-2% CC)

Total

Down 9-11%

(Down 5-7% CC)

Gross Profit Margin

18.6-18.8%

Operating Profit Margin

2.6-2.8%

Tax Rate

36.5%

EPS

$0.97-$1.01

(Neg.

$.06

Currency)

Down 16-18%

Other EMEA

(Up/Down 1% CC)

Down

6-8%

rd

Manpower Inc.

2008 3   Quarter Results

Questions?

Answers

October 21, 2008

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