Global Employment Outlook for Q4 Remains Strong Amid Cooling in Hiring
- Despite concerns of a recession, employers globally are poised to continue hiring much needed talent reporting a Net Employment Outlook of +30%.
- Optimism is strongest among organizations in
Brazil(+56%) and India(+54%); weakest in Hungary(-5%) and Greece(-5%).
- The greatest hiring demand is in Information Technology (IT).
Used internationally as a bellwether of economic and labor market trends, the Net Employment Outlook – calculated by subtracting the percentage of employers who anticipate reductions to staffing levels from those who plan to hire – now stands at +30%, down slightly (-3%) from Q3, yet 6% higher than this time last year.
Of the 41 countries and territories, only hiring managers in
"Despite economic and geopolitical clouds on the horizon, employer hiring intentions remain strong. Organizations continue to focus on attracting and retaining people as competition for employees remains fierce, even two years after the pandemic first began. That means holding onto — and developing — the talent they have," said
- Organizations in the IT industry report the most optimistic Outlook (+42%); followed closely by Banking, Real Estate, and Insurance (+37%).
- The brightest hiring intentions for next quarter are in
Asia Pacific(+40%) and South and Central Americas(+39%), with the greatest expectations in Brazil(+56%) and India(+54%).
- Employers in
Europe, the Middle East, and Africa(EMEA) anticipate relatively stable hiring (+21%), yet Outlooks for countries near Ukrainefall by as much as -17% since last quarter.
- Employers in
Canada(+30%) and the U.S.(+33%) report moderate decreases in their Outlooks compared to last quarter, -8% and -5%, respectively, while Puerto Ricoreports an overall Outlook of +32%.
Canadaand the U.S.expect hiring to be weaker compared to intentions year-over-year, -6% in Canadaand -13% in the U.S.
- In the
U.S., the strongest hiring outlook is seen in IT (+42%).
- Hiring managers in
Brazilreport bullish intentions (+56%), followed by Costa Rica(+52%), and Colombia(+46%); The lowest confidence is seen in Argentina(+9%).
- Intentions decline versus the previous quarter (-3%) but improve based on the same time last year (+21%).
- Only two sectors report quarterly improvements: Restaurant and Hotels (+10%) and Primary Production (+2%).
- Intentions remain the same when compared with Q4 2021 while easing -3% since last quarter.
- Outlooks vary across the region with employers most keen to hire in
Sweden(+34%), France(+34%), Norway(+33%), and Belgium(+33%), and the most cautious in Hungary(-5%), Greece(-3%), and Poland(+1%).
- Countries closest to
Ukraineare taking a frugal approach in hiring intentions; for example, Hungarydropped 17% since last quarter, and now report an Outlook of -5%. India(+54%), China(+46%), and Australia(+38%) report the most positive Outlooks.
- APAC is the only region where hiring intentions improve from last quarter (+6%) and shows a 20% increase from Q4 2021.
Chinaand Hong Kongcontinue to bounce back from COVID-19 lockdowns prevalent last quarter, both growing 15% since Q3.
To view complete results for the
ManpowerGroup® (NYSE: MAN), the leading global workforce solutions company, helps organizations transform in a fast-changing world of work by sourcing, assessing, developing, and managing the talent that enables them to win. We develop innovative solutions for hundreds of thousands of organizations every year, providing them with skilled talent while finding meaningful, sustainable employment for millions of people across a wide range of industries and skills. Our expert family of brands – Manpower, Experis, and Talent Solutions – creates substantially more value for candidates and clients across more than 75 countries and territories and has done so for over 70 years. We are recognized consistently for our diversity – as a best place to work for Women, Inclusion, Equality, and Disability, and in 2022
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