ManpowerGroup's Global Hiring Confidence Index Reveals Rougher Road
Ahead for Job Seekers as Global Labor Market Set to Slow Further in
1Q 2013
MILWAUKEE, Dec. 11, 2012 /PRNewswire/ -- According to
ManpowerGroup's (NYSE:MAN) first-quarter 2013 Manpower Employment
Outlook Survey released today, the majority of employers in the
global labor market are less confident about adding staff
than they were at the start of 2012, suggesting a more difficult
time ahead for job seekers. ManpowerGroup's research shows softer
forecasts in 29 of 42 countries and territories compared to this
time last year, and compared to three months ago shows that hiring
intentions fall in 21 countries. The weaker hiring sentiment is
most evident across Europe, where
employers in 13 of 24 countries are reporting negative outlooks for
the first quarter, compared to eight countries just three months
ago. Despite the uncertainty that prevails in Europe, the German labor market shows signs of
resilience, as employers there report a similar forecast from three
months ago. The uncertainty in demand also extends to China, where employers report the weakest
hiring plans in three years. Meanwhile, U.S. employers say they
will hire at the same steady pace seen over the past six
months.
(Logo:
http://photos.prnewswire.com/prnh/20110330/CG73938LOGO-a)
"Worldwide, businesses are hesitating with investments due to
uncertainty and this includes their investment in talent," said
Jeffrey A. Joerres, Chairman and CEO
of ManpowerGroup. "In Europe, more companies are telling us they
will cut staff to adjust to the weaker demand. In fact, employers
in seven European countries are reporting their weakest forecasts
since we have been tracking hiring trends. But the current
softening across global labor markets is much different than in
2008-2009. We are not seeing widespread doom and gloom, but rather
more of a prolonged standstill in hiring. We do see a few bright
spots. UK employers are reporting the strongest outlook in four
years and the German market should remain steady over the next
three months. In addition, job prospects in the U.S. remain stable,
and perhaps now with the elections behind us the labor market can
gain some traction."
ManpowerGroup's hiring confidence index reveals that
first-quarter hiring plans are strongest in Taiwan, India, Brazil, Mexico, Colombia and Panama while those in Greece, Italy, Spain,
Slovakia, Slovenia and the
Netherlands are the weakest worldwide.
Across the Europe, Middle East and Africa (EMEA) region, first-quarter hiring
plans are positive in 11 of 24 countries with Outlooks improving or
remaining relatively stable from three months ago in 13 labor
markets. On the other hand, a year-over-year analysis reveals that
the hiring pace is expected to weaken in three-quarters of the
countries surveyed. Job prospects in the region are expected to be
strongest in Turkey, Israel and Romania and weakest in Greece, Italy
and Spain.
"With the eurozone's return to recession, employers are
confronted with a difficult balancing act in the near term,"
Joerres said. "Companies must find a way to recalibrate their
workforce to align with an uncertain demand for their products and
services and this is no easy task. Furthermore, in Eastern Europe our data reveals a prevalent
weakening trend – hiring intentions fall from three months ago in
all of the countries we survey, with Polish employers reporting
their first-ever negative forecast. In contrast, stronger hiring
plans in Finance and Business Services are helping to fuel a
modestly improved UK outlook."
Employers across the 10 countries ManpowerGroup polls in the
Americas continue to report various degrees of positive hiring
activity. Outlooks improve or remain stable in six of 10 countries
quarter-over-quarter, but year-over-year comparisons reveal weaker
hiring plans in seven countries. Regional hiring expectations are
strongest in Brazil, Mexico, Panama and Colombia, and weakest in Argentina, where hiring expectations bounce
back from a weakening trend of six consecutive quarters. While
results for the U.S. are among the least optimistic in the region,
the forecast does represent the strongest U.S. hiring pace seen
since the recession.
"U.S. job seekers should encounter the same measured hiring
environment, led by the Wholesale & Retail Trade sector where
one in four employers say they will hire," said Joerres. "Job
prospects in Mexico are the
strongest in nearly five years, but companies and workers alike are
trying to assess the long-term impact of the recent labor market
reforms, which include lifting the ban on part-time employment.
Meanwhile, Brazil's hiring
forecast – although the most optimistic in the region – is the
weakest on record and represents notable declines in nearly all
industry sectors."
On the other side of the globe in the Asia Pacific region, hiring expectations
remain positive in all labor markets. Job prospects are expected to
remain largely unchanged from three months ago in the majority of
countries and territories surveyed. However, forecasts weaken in
five of eight countries compared to this time last year. Expected
demand for talent in the region is strongest in Taiwan and India and weakest in Australia, where hiring expectations have
steadily fallen over the past year and a half.
"Australia's once booming
resource sector is unexpectedly slowing down due to lower commodity
prices and weaker demand from Asia, however the appetite for skilled talent
in the sector remains healthy," Joerres said. "Similarly, in the
Indian market employer demand is notably weaker than 12 months ago
across all industry sectors and more companies are uncertain about
their workforce plans. We see this same growing uncertainty in
China where 38 percent of
employers are telling us they simply don't know whether or not they
will hire in the quarter ahead. On the other hand, Taiwanese
employers report the same robust hiring patterns seen over the past
six months, led by continued strong hiring plans in the Services
sector. Interestingly, regionwide the Finance/Insurance/Real Estate
sector is expected to bounce back from last quarter with outlooks
improving or remaining relatively stable across all countries and
territories."
The next Manpower Employment Outlook Survey will be released on
12 March 2013 to report hiring
expectations for the second quarter of 2013. The Manpower
Employment Outlook Survey is available free of charge to the public
through local Manpower representatives in participating countries.
To receive e-mail notification when the survey is available each
quarter, please complete an online subscription form at:
http://www.manpowergroup.com/investors/alerts.cfm.
About the Survey
The global leader in innovative workforce solutions,
ManpowerGroup releases the Manpower Employment Outlook Survey
quarterly to measure employers' intentions to increase or decrease
the number of employees in their workforce during the next quarter.
It is the longest running, most extensive, forward-looking
employment survey in the world, polling over 65,000 employers in 42
countries and territories. The survey serves as a bellwether of
labor market trends and activities and is regularly used to inform
the Bank of England's Inflation
Reports, as well as a regular data source for the European
Commission, informing its EU Employment Situation and Social
Outlook report the Monthly Monitor. ManpowerGroup's
independent survey data is also sourced by financial analysts and
economists around the world to help determine where labor markets
are headed.
About ManpowerGroup
ManpowerGroup™ (NYSE: MAN), the world leader in innovative
workforce solutions, creates and delivers high-impact solutions
that enable our clients to achieve their business goals and enhance
their competitiveness. With over 60 years of experience, our
$22 billion company creates unique
time to value through a comprehensive suite of innovative solutions
that help clients win in the Human Age. These solutions cover an
entire range of talent-driven needs from recruitment and
assessment, training and development, and career management, to
outsourcing and workforce consulting. ManpowerGroup maintains the
world's largest and industry-leading network of 3,600 offices in 80
countries and territories, generating a dynamic mix of an unmatched
global footprint with valuable insight and local expertise to meet
the needs of its 400,000 clients per year, across all industry
sectors, small and medium-sized enterprises, local, multinational
and global companies. By connecting our deep understanding of human
potential to the ambitions of clients, ManpowerGroup helps the
organizations and individuals we serve achieve more than they
imagined – because their success leads to our success. And by
creating these powerful connections, we create power that drives
organizations forward, accelerates personal success and builds more
sustainable communities. We help power the world of work. The
ManpowerGroup suite of solutions is offered through ManpowerGroup™
Solutions, Manpower®, Experis™ and Right Management®. Learn more
about how ManpowerGroup can help you win in the Human Age at
www.manpowergroup.com.
SOURCE ManpowerGroup