Global hiring outlook dips as economic challenges loom – ManpowerGroup
WISCONSIN, UNITED STATES — Global hiring intentions cooled for Q2 2024 amid economic headwinds, according to ManpowerGroup’s latest Employment Outlook Survey.
The Net Employment Outlook (NEO) dipped to +22%, down 2% year-over-year and 4% from Q1.
“After years of breakneck post-pandemic growth, a cooldown was inevitable,” said ManpowerGroup CEO Jonas Prising.
The survey of over 40,000 employers across 42 countries showed North America (+31%) had the highest regional hiring outlook, followed by Asia Pacific (+27%), Central and South Americas (+19%), and Europe/Middle East/Africa (+15%).
Globally, employers surveyed project a +22% Net Employment Outlook in Q2. Discover more #hiringtrends — download the latest #ManpowerGroup #EmploymentOutlookSurvey report: https://t.co/vQsXWR1aCa #MEOS pic.twitter.com/p5n8wYYvBB
— ManpowerGroup (@ManpowerGroup) March 12, 2024
By country, India (+36%), the U.S. (+34%), China, Costa Rica and the Netherlands (all +32%) led hiring plans, while Romania (-2%), Israel (-1%) and Argentina (+1%) lagged.
The IT industry maintained the most robust global outlook at +34%, trailed by financials/real estate (+29%) and healthcare/life sciences (+28%).
“Still, demand remains strong for skilled talent. Given the global talent shortage, we expect hiring managers to get creative in this climate, whether it’s upskilling current staff or through more targeted recruitment, as businesses gauge conditions over the coming months,” Prising added.
Other findings include:
- 46% of employers said they were on track for gender equity goals.
- 61% are investing in diversity, equity, inclusion, and belonging initiatives.
- 37% credited flexible work policies for aiding talent retention and diversity.
- 65% of employers felt technology enabled greater workplace flexibility to promote gender equality.
