Global Hiring Intentions Hold Steady in Q4 2023, ManpowerGroup Survey Reveals

Global Hiring Intentions Remain Muted Year-over-Year, Hold Steady Quarter-over-Quarter By Investing.com

The Net Employment Outlook for Q4 2024 is 25%, up 3% from Q3, down 5% compared to Q4 2023 , /PRNewswire/ -- Global hiring intentions are holding steady for the fourth quarter of 2024, with a Net Employment Outlook (NEO) of 25%, though Outlooks remain weaker compared to Q4 2023 according to the latest ManpowerGroup (NYSE:MAN) Employment Outlook Survey. The Survey, which gathered data from over 40,000 employers across 42 countries between , reveals that while the NEO has increased by 3% from the previous quarter, it represents a -5% decline compared to the same period last year. This year-over-year decrease indicates that economic uncertainties continue to impact hiring plans, albeit with signs of quarter-over-quarter improvement. "The global labor market is holding steady as we move into the fourth quarter, with relatively low unemployment and layoff activity in many countries," said , ManpowerGroup Chairman & CEO. "While the gradual quarter-over-quarter improvement shows employers are cautiously optimistic about hiring, the drop from a year ago suggests employers remain prudent in the midst of uncertainty. The continued strong Outlook in the IT sector is driving demand for tech talent, especially with AI top of mind for businesses across every industry. Now is the time to prioritize retaining and attracting workers with specialized, flexible skills, and an adaptable mindset to adjust to the evolving requirements." Used internationally as a bellwether of labor market trends, the NEO is calculated by subtracting the percentage of employers who anticipate reductions in staffing levels from those who plan to hire. : North American employers remain the most optimistic with a 32% Outlook in Q4, an increase of 5% from Q3 2024 but still down -3% from Q4 2023. (APAC): Hiring managers across the region anticipate the second strongest regional Outlook (27%), an increase from the previous quarter (+4%) but decreased when compared to the same time last year (-5%). Central & South America: At 23%, hiring projections improved quarter-over-quarter (+1%), but declined year-over-year (-8%). , the Middle East, and (EMEA): Employers in EMEA report the lowest hiring Outlook among all regions at 21%. While hiring intentions weakened -3% compared to the same period last year, they have strengthened by +2% since Q3 2024. To view the complete results for the fourth quarter 2024 ManpowerGroup Employment Outlook Survey, including regional and country data, visit: https://go.manpowergroup.com/meos. The next survey will be released in December and will report hiring expectations for the first quarter of 2025. ABOUT THE SURVEY The ManpowerGroup Employment Outlook Survey is the most comprehensive, forward-looking employment survey of its kind, used globally as a key labor market indicator. The Net Employment Outlook (NEO) is derived by taking the percentage of employers anticipating an increase in hiring activity and subtracting from this the percentage of employers expecting a decrease in hiring activity. SURVEY METHODOLOGY The methodology used to collect NEO data has been digitized. Survey responses were collected from , and 40,340 employers across 42 countries were asked about their fourth quarter hiring intentions. Both the questions asked, and the respondent profile remain unchanged. The size of the organization and sector are standardized across all countries and territories to allow international comparisons. All NEOs referenced have been seasonally adjusted for easier interpretation, comparison, and consistency. Note: joined the program in Q2 2024. There is currently no historical data, and the data has not been seasonally adjusted. ABOUT MANPOWERGROUP ManpowerGroup (NYSE: MAN), the leading global workforce solutions company, helps organizations transform in a fast-changing world of work by sourcing, assessing, developing, and managing the talent that enables them to win. We develop innovative solutions for hundreds of thousands of organizations every year, providing them with skilled talent while finding meaningful, sustainable employment for millions of people across a wide range of industries and skills. Our expert family of brands " Manpower, Experis, and Talent Solutions " creates substantially more value for candidates and clients across more than 70 countries and territories and has done so for more than 75 years. We are recognized consistently for our diversity " as a best place to work for Women, Inclusion, Equality, and Disability, and in 2024 ManpowerGroup was named one of the World's Most Ethical Companies for the 15th time " all confirming our position as the brand of choice for in-demand talent. For more information, visit www.manpowergroup.com, or follow us on LinkedIn, X, Facebook (NASDAQ:META), and Instagram. FORWARD-LOOKING STATEMENTS This press release contains forward-looking statements, including statements regarding labor demand in certain regions, countries and industries, as well as economic uncertainty. Actual events or results may differ materially from those contained in the forward-looking statements, due to risks, uncertainties and assumptions. These factors include those found in the Company's reports filed with the U.S. Securities and Exchange Commission (SEC), including the information under the heading "Risk Factors" in its Annual Report on Form 10-K for the year ended December 31, 2023, whose information is incorporated herein by reference. ManpowerGroup disclaims any obligation to update any forward-looking or other statements in this release, except as required by law.

Global hiring intentions hold steady in Q4, ManpowerGroup survey shows

MUMBAI, Sept 10 (Reuters) - Companies' global hiring intentions are expected to hold steady in the fourth quarter of 2024, even though the outlook for the quarter ahead was weaker than the final quarter of 2023, ManpowerGroup's Employment Outlook Survey showed. The global hiring outlook for the fourth quarter of 2024 was slightly higher at 25%, compared to 22% in the third quarter, the survey of over 40,000 employers across 42 countries showed. Year-on-year, however, it fell 5%, according to the net employment outlook (NEO) metric - an internationally used bellwether of labour market trends, ManpowerGroup said. More than 40% of employers surveyed expect an increase in hiring plans, while 16% anticipate a reduction, the NEO metric in the survey showed. "The global labour market is holding steady as we move into the fourth quarter, with relatively low unemployment and layoff activity in many countries," said Jonas Prising, chief executive of ManpowerGroup. Employers in India at 37%, followed by Costa Rica at 36% and the United States at 34%, reported the strongest hiring plans, while Argentina at 4% and Israel at 8% had the weakest outlooks. The information technology and real estate sectors reported the strongest hiring intentions, at 35% and 32%, respectively, ManpowerGroup's survey showed. "The continued strong outlook in the IT sector is driving demand for tech talent, especially with AI (artificial intelligence) top of mind for businesses across every industry," Prising said. Retaining and attracting workers with specialised and flexible skills is a priority for employers, he added. North American employers continued to be the most optimistic in their hiring intentions, with the U.S. leading the charge as employers continued to report one of the strongest global outlooks for the IT sector, ManpowerGroup's survey showed. Managers in the Asia-Pacific were the second strongest in regional outlooks, while hiring expectations remained at the lowest level in Europe, the Middle East, and Africa, according to the survey. According to the survey, increasing work-life balance is a top priority for employers, especially in Asia-Pacific, as they focus on increasing worker retention. However, hiring managers said employers still hold the power when it comes to negotiating pay, working location, and flexible working hours. (For live interviews, join the Reuters Global Markets Forum, opens new tab, hosted on LSEG Messenger: https://lseg.group/3KFHrhe, opens new tab) Reporting by Divya Chowdhury in Mumbai; Editing by Kim Coghill Our Standards: The Thomson Reuters Trust Principles., opens new tab Divya Chowdhury Thomson Reuters A financial journalist for nearly two and a half decades, Divya currently covers the length and breadth of global markets while managing journalist-led communities of cross-asset financial market participants on LSEG Messenger. She has a strong grasp on markets, macroeconomics and company news, regularly hosts panel discussions and interviews, both on- and off-camera, and is a Davos regular since 2019. Her strategic mindset helps her team engage LSEG's buy- and sell-side clients, providing them with actionable intelligence and getting them access to the biggest voices in business and finance across the world.

Global hiring intentions hold steady in Q4, shows ManpowerGroup survey

Companies' global hiring intentions are expected to hold steady in the fourth quarter of 2024, even though the outlook for the quarter ahead was weaker than the final quarter of 2023, ManpowerGroup's Employment Outlook Survey showed. The global hiring outlook for the fourth quarter of 2024 was slightly higher at 25 per cent, compared to 22 per cent in the third quarter, the survey of over 40,000 employers across 42 countries showed. Click here to connect with us on WhatsApp Year-on-year, however, it fell 5 per cent, according to the net employment outlook (NEO) metric - an internationally used bellwether of labour market trends, ManpowerGroup said. More than 40 per cent of employers surveyed expect an increase in hiring plans, while 16 per cent anticipate a reduction, the NEO metric in the survey showed. "The global labour market is holding steady as we move into the fourth quarter, with relatively low unemployment and layoff activity in many countries," said Jonas Prising, chief executive of ManpowerGroup. Employers in India at 37 per cent, followed by Costa Rica at 36 per cent and the United States at 34 per cent, reported the strongest hiring plans, while Argentina at 4 per cent and Israel at 8 per cent had the weakest outlooks. The information technology and real estate sectors reported the strongest hiring intentions, at 35 per cent and 32 per cent, respectively, ManpowerGroup's survey showed. More From This Section India prepares new semiconductor incentives as US partnership takes shape Apple supplier Jabil to set up Rs 2,000 crore mfg unit in Tiruchirapalli Premium Post-Covid boom in profits yet to show in India Inc capital expenditure Premium Local procurement mandate for solar power projects may get stringent EMPS to continue till FAME-III launch, says MHI Minister Kumaraswamy "The continued strong outlook in the IT sector is driving demand for tech talent, especially with AI (artificial intelligence) top of mind for businesses across every industry," Prising said. Retaining and attracting workers with specialised and flexible skills is a priority for employers, he added. North American employers continued to be the most optimistic in their hiring intentions, with the US leading the charge as employers continued to report one of the strongest global outlooks for the IT sector, ManpowerGroup's survey showed. Managers in the Asia-Pacific were the second strongest in regional outlooks, while hiring expectations remained at the lowest level in Europe, the Middle East, and Africa, according to the survey. According to the survey, increasing work-life balance is a top priority for employers, especially in Asia-Pacific, as they focus on increasing worker retention. However, hiring managers said employers still hold the power when it comes to negotiating pay, working location, and flexible working hours. Also Read Premium Bridging the gap: How upskilling initiatives can boost tourism job creation Premium Companies raise concerns over subsidy refund in proposed ELI scheme States stress on timely reporting of information on employment, job fair We must raise the bar to impart lifelong learning in B-schools: Bijapurkar Japanese firms interact with K'taka colleges to enable young Indians hiring