Majority of employers globally anticipate hiring increase, reveals ManpowerGroup
Employers intend to increase hiring in 42 of 43 countries and territories through the end of the year, according to the latest Manpower Employment Outlook Survey, released today by ManpowerGroup.
Employer hiring confidence remains strong despite uncertainty associated with the slowdown of the global economy, the Brexit vote and continued financial market volatility. Hiring confidence is strongest in India, Japan, Taiwan and the United States, while employers in Brazil, Belgium, Finland, Italy and Switzerland report the weakest hiring plans. Only employers in Brazil expect payrolls to decline in the October-December timeframe.
Of the nearly 59,000 employers interviewed globally, 42 of 43 countries and territories anticipate increasing their staffing levels in Q4 2016. Compared to Q3 2016, hiring prospects strengthen in 23 of 43 countries and territories, are unchanged in nine and decline in 11. Compared with last year at this time, Outlooks improve in 21 countries and territories, weaken in 15 and are unchanged in six.
Jonas Prising, chairman & CEO of ManpowerGroup commented, "The Brexit vote in the UK, along with other recent geopolitical events, has added an additional level of volatility – real or perceived – to the global economic outlook.
“Despite this uncertainty, the labor market picture remains cautiously positive, with many EU and Eurozone economies slowly pushing back towards prerecession levels as well as improving prospects in other key markets like India, Japan and Taiwan."
Global Hiring Plans by Region:
- EMEA: Employers expect staffing levels to increase again in all 25 countries in the EMEA region during the upcoming quarter. The strongest EMEA labour markets are forecast by employers in Ireland (their strongest Outlook since Q2 2007) and Israel, while the weakest Outlooks are reported in Belgium, Finland, Italy and Switzerland. Despite the Brexit decision, the jobs market in the UK remains strong at a national level, though there are signs of hesitancy in several sectors including Finance.
- Asia Pacific: Employers in all eight Asia Pacific countries and territories expect workforce gains during Q4 2016. Indian employers report the strongest regional and global hiring prospects for the fifth consecutive quarter, while the weakest Asia Pacific labor market is anticipated in China, also for the fifth consecutive quarter.
- Americas: Employers in nine of the 10 Americas countries expect to increase staffing levels during the next three months. Employers in the United States report the most optimistic hiring prospects in the region, while the weakest hiring activity is forecast by Brazilian employers – the only negative Outlook globally.
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