ManpowerGroup has released the results of its newest Employment Outlook Survey. The survey asked some 58,000 employers in 43 countries and territories to forecast employment changes from the current quarter to the next. While survey answers are decidedly mixed, global hiring growth is expected in 42 of the 43 surveyed locations. On a quarter-over-quarter basis, 15 countries report stronger hiring prospects, while 23 are expecting slower growth, and 5 are unchanged. The next survey results will be available in March 2020.
Here are some of the notable items in each geographic region:
- Employers in the USA lead the region for the ninth consecutive quarter; workforce gains are expected in all 13 market sectors. On a geographic breakdown, employers in the US Midwest and South are especially optimistic about hiring plans. Leisure & Hospitality is the strongest industry sector.
- All Brazilian regions have recovered from the 2015-16 recession, including Rio de Janeiro state.
- Weak hiring plans in the Manufacturing and Commerce sectors give Panama its worst employment outlook in ten years
- Japan has the strongest hiring outlook in the region for the seventh consecutive quarter, although the pace has slowed slightly from last year at this time. Mining and Construction, Services, and Finance, Insurance & Real Estate are expecting the biggest gains
- In India, employers are reporting the weakest hiring climate since they joined the survey 14 years ago with less confidence on both a quarter-over-quarter and year-over-year basis. Payroll growth is still expected though, buoyed by a robust Services sector.
- Employers in Australia are reporting no change expected in the first quarter compared to the current quarter.
- The hiring outlook in China improves slightly over the current quarter, but lags behind last year’s sentiment.
- France leads the region with its strongest hiring outlook in a dozen years. The forecast is especially strong in the Restaurants & Hotels sector.
- In Germany, employers in the Manufacturing, Finance, Insurance, Real Estate & Business Services, and Transport, Storage & Communications sectors anticipate weak hiring plans.
- Brexit continues to dominate the landscape in the UK, leading to the weakest labor market in seven years. Hiring plans are slower both quarterly and annually, but the Mining and Manufacturing sectors remain strong.
Overall, the global hiring outlook is strong. From a US perspective, there appear to be many mixed signals in the hiring with recruiters reporting low confidence while employers are still projecting payroll growth. How does this data compare to what is happening in your geography and market sectors? Drop a note in the comments!