Q1 2019 Hiring Intentions Point to Continued Global Labor Market Growth Led by U.S. and Asia
MILWAUKEE, Dec. 10, 2018 /PRNewswire/ -- Positive Employment Outlooks are set to continue into 2019, with 43 of 44 countries planning to increase headcounts in Q1 according to the ManpowerGroup Employment Outlook Survey (NYSE: MAN). Positive hiring intentions span the globe with strong Outlooks from Japan to Taiwan, the U.S., Slovenia and Greece. Some European countries show signs of softening hiring intentions amid trade tensions and Brexit uncertainty. Modest Outlooks are reported in Germany, the Netherlands and the UK. Only one country – Argentina – is reporting a negative Outlook.
Global hiring intentions have strengthened in 16 countries, remain constant in five and slowed in 23 year-over-year, according to the survey of more than 60,000 employers across 44 countries and territories.
View complete Q1 2019 survey results: www.manpowergroup.com/meos
"We're seeing continued demand for skilled talent across the globe, as companies stay focused on business growth, especially in tight labor markets like the U.S.," said Jonas Prising, ManpowerGroup Chairman & CEO. "We see positive hiring too across Europe despite some caution in Northern Europe where Outlooks are more modest. This year headwinds including new governments, continued uncertainty around whether a Brexit deal might be reached and concerns relating to global trade appear to have led some employers to adopt a wait and see approach to hiring. We do know that technological disruption will continue at pace irrespective of political and economic uncertainty, so now is the time to equip people with the skills they need today, and those they will need to stay employable tomorrow."
Global Hiring Plans by Region
EMEA: Employers report positive Outlooks in all 26 countries surveyed in the EMEA region. Employers in Slovenia (+19%) and Greece (+18%) report the strongest Outlooks. Swiss employers continue to report the weakest hiring prospects in the region.
- Accustomed to uncertainty, UK employers remain optimistic for Q1 2019 reporting stable hiring plans when compared to the previous quarter (+6%). Employers in the Construction sector continue to report the most optimism (+9%) leading to concerns over talent shortages as Brexit negotiations continue.
- The Spanish labor market is set to soften in Q1 2019 as employers report an Outlook of +3%, a slight decline from the previous quarter. However, optimism is reported by employers in the Wholesale & Retail trade sector who expect the strongest hiring climate in 11 years (+10%).
- Manufacturing employers are reporting some of the most optimistic headcount increases for Q1 2019 in Hungary, Romania, Slovakia and Poland, driven by growth in the automotive industry.
Americas: Headcounts are expected to grow in nine of the 10 countries surveyed. U.S. employers report the strongest hiring intentions in the region for the fifth consecutive quarter (+20%). The only negative Outlook in the survey is reported in Argentina (-2%).
- U.S. hiring pace is expected to hit a 12-year high in the new year as unemployment hits a 50-year low and the labor market continues to tighten. At +20%, employers are reporting a 16-point improvement compared to Q1 2010.
- Canada is seeing its strongest performing market since Q2 2008. More than half of the sectors show improvements with Transportation & Public Utilities and Manufacturing of Durables the best performers.
- Brazil leads the way in Latin America, with the strongest hiring intentions in four years, +8%, improving two percentage points year-on-year. The Agriculture, Fishing and Mining sector report the strongest Outlook year-over-year.
- Argentinian employers report the weakest hiring intentions since the survey began 12 years ago (-4%) as key industries such as Manufacturing and Transportation & Utilities contract.
Asia Pacific: Employers in all eight countries and territories expect to increase headcount in the upcoming quarter. Hiring Outlooks are strongest in Japan (+27%) and Taiwan (+21%), with all countries in the region reporting positive hiring intentions.
- The Japanese economy continues to expand, and employers anticipate the strongest hiring pace in over 15 years (+27%). The Transport & Utilities sector leads this expansion with a bullish Outlook of +44%, improving +12 and +10 percentage points from Q4 2018 and Q1 2018 respectively.
- Chinese employers remain confident, reporting an Outlook of +10% for Q1 2019, and the Manufacturing Outlook remains unchanged (+8%). Largely unaffected by the 2008 financial crisis, China's economy has diversified over the last decade, indicative of the country's efforts to expand its production and export-led economy to a consumer one.
To view complete results for the ManpowerGroup Employment Outlook Survey, visit www.manpowergroup.com/meos. The next survey will be released 12 March 2019 and will report hiring expectations for Q2 2019. To receive the latest survey results each quarter, sign up here.
*The Net Employment Outlook 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.
About ManpowerGroupManpowerGroup® (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®, Right Management® and ManpowerGroup® Solutions – creates substantially more value for candidates and clients across 80 countries and territories and has done so for 70 years. In 2018, ManpowerGroup was named one of the World's Most Ethical Companies for the ninth year and one of Fortune's Most Admired Companies for the sixteenth year, confirming our position as the most trusted and admired brand in the industry. See how ManpowerGroup is powering the future of work: www.manpowergroup.com