The Manpower Employment Outlook Survey indicates hiring growth across most global markets compared to Q4 2014. The outlook is generally positive across all global markets on both a quarter-over-quarter and a year-over-year basis. The Manpower survey includes some 65,000 employers in 42 countries. Global markets on the whole are predicting steady growth as opposed to dramatic increases in hiring. Below are some of the key findings:
- More than 20% of employers in Panama is expecting to increase hiring during the first quarter; this represents the most optimistic outlook in the region. Especially-robust sectors include transportation and communications.
- As reported elsewhere, the US jobs market is at its strongest since Q2 2008. Each industry and geographic sector is reporting anticipated growth. The construction market is rebounding nicely, with confidence at its highest since pre-recession.
- Job growth is expected in Brazil, although hiring has slowed considerably from peak activity in 2011-12. Declines are expected in both the manufacturing and construction sectors.
- India, Taiwan, and New Zealand once again lead this region with the strongest hiring plans. Widespread talent shortages are reported throughout India, particularly in IT, finance, construction, and consumer durables.
- Mining and construction is expected to show the largest growth in New Zealand; however, it will remain flat in Australia.
- Hiring in China has stabilized since a sharp decline in 2010-11, with the most opportunities being seen in the service sector.
- Ireland and Spain return to positive hiring outlooks for Q1 after both countries reported declines for Q4.
- Turkey is seeing high demand in the manufacturing sector, along with active hiring in both the pharmaceutical and construction industries.
- Job seekers in the UK will benefit from a continually-improving economy. Employers are particularly optimistic about hiring demands in the construction sector.
The Q2 Manpower Employment Outlook Survey will be released in March. I find this to be an especially interesting survey because it asks employers to forecast future activity as opposed to simply reporting historical results.