MILWAUKEE, March 10, 2020 /PRNewswire/ -- Hiring intentions remain stable for Q2 as employers report consistent or slightly improved year-over-year employment outlooks in 22 of 43 markets. The ManpowerGroup Employment Outlook Survey (NYSE: MAN) asks 60,000 employers in 43 countries whether they intend to hire additional workers or reduce the size of their workforce in the coming quarter. Research was conducted in January 2020 and the survey is the most comprehensive, forward-looking employment survey of its kind, used globally as a key economic indicator.*
The strongest year-over-year increases in hiring intentions are reported by employers in Romania, Turkey and Norway, all driven by growth in Construction, Finance Services and Manufacturing. Hiring outlooks decline most in Hong Kong, Croatia and Poland - all reporting softer hiring plans in Construction and Manufacturing.
"For some time we have seen stable hiring intentions with variations across regions and industries in a slow growth environment," said Jonas Prising, ManpowerGroup Chairman & CEO. "While it is too early to predict the potential impact of Covid-19 on global hiring, the reality today is that unemployment remains low in many markets and organizations globally are still struggling to find people with the right skills. Our research found that 54% of employers can't find the talent to meet their needs, almost double what it was a decade ago. Now, more than ever, organizations need the strategic and operational flexibility to find, build and sustain the best talent while others are trying to do the same."
View complete Q2 2020 survey results: www.manpowergroup.com/meos
Global Hiring Plans by Region
EMEA: Hiring intentions strengthen in eight markets and weaken in 13 year-over-year. The highest outlooks are reported in Croatia (+24%), Greece (+24%) and Romania (+20%) and the lowest by employers in Poland (+2%), South Africa (+2%) and Switzerland (+3%).
- Employers in all seven UK industries report an increase in hiring intention for the next quarter with the strongest forecasts in the Utilities sector (+9%) and the Finance & Business Services sector (+8%). These increases are likely in response to greater clarity over Brexit following the December general election and signing of the exit agreement.
- Germany's employment outlook declines 1 percentage point, indicative of hiring hesitancy especially in auto-manufacturing and related supply chains.
- French employers report a 2 percentage point increase in hiring intentions on a quarterly basis, but this remained flat when compared with Q2 in 2019.
Americas: Employers in nine of the 10 countries in the region report positive hiring outlooks. The strongest hiring intentions are anticipated in the U.S. (+19%), Brazil (+14%) and Colombia (+11%).
- Employers in Brazil report the strongest year-over-year hiring increase in hiring intentions in the region, up 7 percentage points. The employment outlook in Manufacturing reached a six-year-high of +15%.
- U.S. employers report the region's strongest hiring intentions for the tenth consecutive quarter and anticipate optimistic job growth in all 12 sectors though Manufacturing employers report a 5-percentage point decline year-over-year following steady softening in 2019.
- Employers in Canada report the lowest outlook since Q4 2017 (+9%) with hiring forecasts in Manufacturing the lowest industry Outlook.
Asia Pacific: In the Asia Pacific region, five of the seven countries and territories showed weaker outlooks year-over-year, possibly a result of employer caution in the wake of trade uncertainty.
- Japan's employers report one of the strongest outlooks globally (+24%) but hiring intentions decline by 2 percentage points year-over-year. Japan's Mining & Construction sector report the strongest sector hiring intentions for the fifth consecutive quarter (+39%), while Public Administration & Education continue to report the weakest, yet still positive, hiring gains (+9%).
- Employers in Hong Kong report one of the lowest outlooks globally of +1%, declining significantly quarter-over-quarter and year-over-year. The steepest sector declines are reported by Manufacturing employers at -5%.
To view complete results for the ManpowerGroup Employment Outlook Survey, visit: www.manpowergroup.com/meos. The next survey will be released June 9 2020 and will report hiring expectations for Q3 2020. To receive the latest survey results each quarter, sign up here.
The Net Employment Outlook is derived by taking the percentage of employers anticipating an increase in hiring activity and subtracting from this the percentage of employers expecting a decrease in hiring activity.
*The survey was conducted between January 6 and January 28 before the global escalation of Covid-19
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 substantial value for candidates and clients across 80 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 2020 ManpowerGroup was named one of the World's Most Ethical Companies for the eleventh year - all confirming our position as the brand of choice for in-demand talent.