Global hiring intentions steady despite economic uncertainty: ManpowerGroup Q4 survey

MILWAUKEE, UNITED STATES — According to the latest ManpowerGroup Employment Outlook Survey, global hiring intentions for the fourth quarter of 2024 are holding steady with a Net Employment Outlook (NEO) of 25%. This represents a 3% increase from the previous quarter but a 5% decline compared to the same period last year.
The survey, which gathered data from over 40,000 employers across 42 countries, highlights ongoing economic uncertainties affecting hiring plans despite some quarter-over-quarter improvement.
North America leads in hiring confidence
North America reports the strongest hiring intentions with a 32% NEO, reflecting a 5% increase from Q3 2024, although still 3% lower than Q4 2023.
In the United States, robust hiring plans are evident, particularly in the IT sector, which continues to drive demand for tech talent.
Asia Pacific and Latin America show mixed outlooks
In the Asia Pacific region, the NEO is 27%, up by 4% from the previous quarter, though 5% lower than last year. India, Singapore, and China report the highest intentions, with Singapore leading globally in the Financials & Real Estate sector at 64%.
Central and South America see a 23% NEO, with a modest 1% increase quarter-over-quarter but an 8% year-on-year decline. Costa Rica, Brazil, and Guatemala exhibit strong hiring plans, with Costa Rica leading in the IT sector.
EMEA region faces challenges
Europe, the Middle East, and Africa (EMEA) report the lowest regional NEO at 21%, with a 2% improvement from Q3 2024 but a 3% decrease compared to Q4 2023. South Africa, Switzerland, Ireland, and the Netherlands show the strongest hiring intentions within the region.
IT, finance drive employment growth
The IT industry continues to report the highest hiring intentions globally at 35%, followed by the Financials & Real Estate sector at 32%.
Larger organizations, especially those with 250-999 employees, show stronger hiring plans, with a 32% NEO, while smaller companies with fewer than ten employees report the weakest outlook at 13%.
Navigating economic uncertainty
Jonas Prising, ManpowerGroup Chairman & CEO, stated, “The global labor market is holding steady as we move into the fourth quarter, with relatively low unemployment and layoff activity in many countries.”
“While the gradual quarter-over-quarter improvement shows employers are cautiously optimistic about hiring, the drop from a year ago suggests employers remain prudent amid uncertainty,” he added.
The survey underscores the need for businesses to retain and attract workers with specialized, flexible skills to adapt to evolving market requirements.
As companies continue to navigate economic challenges, the focus remains on strategic hiring and workforce planning to sustain growth and competitiveness in a rapidly changing global landscape.