Q1 U.S. Hiring Outlook Remains Strong, Yet Signs of Slowdown Emerge
- High Demand for Skilled IT, Finance and Production Talent Persists
- Some signs of slowdowns emerge – employment outlook declines 4% quarter-over-quarter and 12% year-over-year
The Net Employment Outlook (NEO), an indicator of economic and labor market trends, now stands at +29%, down 4% from last quarter and 12% from this time last year. The NEO is calculated by subtracting the percentage of employers who anticipate reductions to staffing levels from those who plan to hire.
"This labor market continues to defy expectations with employers planning to add to their workforces across all key sectors for Q1," said
- Regionally, the strongest hiring intentions for next quarter are in the Northeast, with 50% of employers planning to add staff.
- Organizations in the IT industry report the most optimistic outlook (+52%). This is the strongest Outlook for this industry worldwide. Finance & Real Estate has the second strongest Outlook at +34%.
- When compared with the previous quarter, hiring intentions declined in all regions except the Northeast. All regions expect a decrease in hiring compared to last year at this time.
- Large organizations (250-plus employees) are more than three times as optimistic as micro (less than 10 employees) to hire in the coming quarter with employment outlooks of +36% and +10% respectively.
- Strongest hiring intentions among organizations are reported in
Panama(+39%), Costa Rica(+35%), and Canada(+34%); weakest in Hungary(-8%), Poland(-2%), and the Czech Republic(+1%).
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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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