According to the latest Manpower Group employment outlook survey, staffing levels are expected to grow in 40 out of 43 countries and territories during the July-September period. Moreover, the overall payroll growth is likely to increase at a more conventional speed than in the prior quarter or during the same time last year.
Rises in the overall employer confidence are quite few and some are even projecting declining trajectories – Brazil and China. Furthermore, hiring plans have strengthened in the third quarter in 14 out of 42 countries, compared with the April-June time frame. In fact, it remains unchanged in seven countries and has weakened in 21 countries.
The overall outlooks have significantly improved in 13 countries and territories compared with the results during the same time last year. According to the survey report, hiring confidence is the strongest in Japan, India, Taiwan, Romania, Guatemala and the United States. While, it’s the weakest in Brazil, Switzerland, and Italy.
Out of 59,000 employers interviewed globally, 40 out of 43 countries and territories are expecting to increase their staffing levels in this quarter. Jonas Prising, Chairman & CEO of ManpowerGroup says, stronger employer hiring intentions in most regions have definitely raised optimism levels. With the political uncertainty in Europe and the US, more and more employers are hesitant to add employees to their workforce. They do, however, continue hiring at modest levels. On the other hand, the economic slowdown in China has cast a grim shadow over its trading partners.
Countries Most Likely To Hire – By Regions
Asia Pacific: Job gains are likely to increase in eight countries and territories in the Asia-Pacific region. Meanwhile, employers in India report the most optimistic of regional and global hiring plans in the fourth consecutive quarter. At the same time, employers in China report the weakest outlook.
EMEA: Employers in Romania report the region’s strongest Q3 hiring plans. Meanwhile, Italy and Switzerland report the weakest forecast. While, for the first time in last eight years, the EMEA region reports no negative national forecasts. In its Q3 survey, which also include Portugal, the EMEA region reports optimistic hiring outlook for the next three months.
Americas: The United States and Guatemala report the Americas most optimistic Q3 hiring outlook. However, the only negative forecast is reported by Brazil.
The Manpower Employment Outlook survey is the longest-running and the most extensive employment outlook survey in the world. It published its first report in 1962 and has since been interviewing more than 59,000 employers from across 43 countries and territories. The report measures their hiring confidence in the workforce in the coming quarter. The employment outlook survey also serves as a forecast of labor market trends across different geographies of the world. The Bank of England’s Inflation Reports also refer to it. And by the European Commission for EU Employment Situation and Social Outlook report. So do economists from across the world to gauge the health of the labor markets.