A message from Jonas Prising,
ManpowerGroup Chairman & CEO:
“This data suggests employers are planning more measured hiring for the quarter ahead as they navigate a range of local and macro level challenges from supply constraints to uneven consumer confidence and rising inflation. That said, attracting and retaining business critical talent remains a priority, and our survey respondents around the world continue to be focused on hiring for in-demand roles.”
The latest ManpowerGroup Employment Outlook Survey finds employers in 26 countries report a weaker hiring outlook compared with the same period last year, improving in 12, and remaining unchanged in two.
All regions showed a net positive hiring outlook, though hiring plans are weaker year-over-year globally.
North America continues to hold the strongest outlook (+35%), followed by Asia Pacific (+31%), and South and Central America (+29%), with Europe, Middle East and Africa reporting the weakest (+20%).
Digital roles continue to drive the most demand globally with businesses in the IT industry reporting the brightest outlook for the third time this year but weakening -7% compared with Q3 2022.
KEY FINDINGS FROM THE Q3 REPORT
For Q3 the most optimistic hiring outlooks are reported by organizations in Costa Rica (+43%), the Netherlands (+39%), and Peru (+38%). Employers in Argentina (+6%), Slovakia (+10%), Austria (+11%), and Italy (+11%) report the least optimistic outlooks.
Among the world’s largest economies, respondents in the United States (+35%), the United Kingdom (+29%), Germany (+28%), and France (+21%) all plan to hire in the third quarter.
Organizations in the IT sector (39%) report the strongest outlook, followed by Energy & Utilities (34%). The least optimistic hiring plans are found in the Communication Services (22%) and Consumer Goods & Services (22%) industries.
Year-over-year, employers in 26 countries plan to hire fewer workers, with the NEO declining -4 percentage points. The biggest year-over-year declines are reported in Brazil (-19%), India (-15%), Argentina (-14%), Finland (-14%), and Ireland (-14%).
ManpowerGroup interviewed nearly 39,000 employers across 41 countries on hiring intentions for the third quarter of 2023.