ManpowerGroup has released its newest Employment Outlook Survey. Hiring momentum remains strong going into the second quarter, with a considerable increase in the employment outlook on a year-over-year basis. More than 41,000 employers in some 40 countries and territories participated in the survey. While hiring plans are robust in many sectors and geographies, large organizations (more than 250 employees) expect to add the most headcount. Quarter-over-quarter hiring activity is expected to decrease slightly. Of particular note, survey data was collected in January 2022 prior to the conflict in Ukraine. Below are some of the major highlights from this latest survey.
- Skilled workers are in demand on a global basis, with employers in 39 of 40 countries reporting positive net employment outlooks
- Employers in North America have the most optimism about the upcoming quarter, while employers in Brazil, Colombia, India and Sweden lead with the strongest hiring climates
- Demand for new workers is especially strong in digital sectors: IT and technology, banking, and manufacturing. Restaurants and hotels continue to struggle and have the weakest hiring plans
- The weakest hiring prospects for the upcoming quarter are in Greece (-2%), Poland (+5%), and Japan (+6%)
- Significant improvements in the year-over-year outlook were reported in South Africa (+40%), Panama and Peru (+36% each)
- For the third consecutive quarter, hiring intentions in EMEA improve, bolstered by strong activity in Sweden, the Netherlands and Belgium
- On a global basis, Brazilian employers have the strongest hiring momentum, especially in the wholesale & retail trade sector (+58%)
- Employers in all seven AsiaPac countries in the survey are expecting payroll gains in Q2. Hiring plans accelerate in China and Singapore while softening somewhat in India, Australia, Japan, Taiwan and Hong Kong.
The ManpowerGroup Employment Outlook Survey is in its 60th year of existence. It is used globally as a key economic indicator due to its size and scope. The newest data shows continued economic improvement following the global health pandemic. Third-party recruiters should have no difficulty obtaining new job orders, although candidates remain scarce in many markets and sectors.