ManpowerGroup has released the findings of its newest quarterly Employment Outlook survey. Employers participating in the survey report a net global hiring outlook of +28% for the upcoming quarter. This is down by 4% on a year-over-year basis, but a 5% improvement (+23%) compared to the previous quarter. The net outlook is derived by subtracting the difference between the employers who expect to increase hiring (43%) and those who anticipate reductions (15%).
Additionally, talent scarcity remains a top concern as 77% of employers report difficult finding employees. This is a 17-year high.
Other key findings from the global hiring outlook data include:
- Employers in North America have the strongest hiring expectations, with a net outlook of +35%. Canada, Mexico and the United States are all above the global average (+28%).
- Costa Rica is the global leader with a +43% net outlook.
- Peru has the strongest quarter-over-quarter improvement at +11% while Hong Kong leads on a year-over-year basis at +22%.
- Hiring expectations throughout EMEA remain steady with a modest quarter-over-quarter improvement (+2%) and an almost-equal year-over-year decline (-2%).
- For the third consecutive quarter, the IT sector boasts the strongest hiring outlook at +39%, although that is a decline of 7% compared to last year. This sector is followed by energy and utilities (+34%) and financials / real estate (+31%), respectively.
- The global hiring outlook survey also looks at hiring intentions among different sizes of employers. Large employers (250+ employees) have the most positive outlooks at +34%, but the smallest employers (10 or fewer) still have a +18% net outlook.
- Soft skills, such as reliability and self-discipline, creativity and originality, collaboration and teamwork, critical thinking and analysis, and leadership and social influence, remain highly sought after by employers in multiple sectors and regions.
Other workforce trends continue to shape the hiring landscape, including tech adoption, shifting demographics, flexible work arrangements, and other competitive drivers. Learn more about these trends here. Employers who adapt to these new human realities are more likely to be successful in a talent-scarce environment.